GBPJPY Rise After ThrowbackAs you see in the 4H time frame, price has made a strong breakout on the yellow resistance zone and turned it into the support zone.
After a sharp rise, price closed a long candle above the yellow resistance area. Currently, price is throwing back to the yellow broken area which is around 159.00 - 158.500
However, we should wait for the breakout on the last high at 160.00 to get confirmation of an upside move.
If price was pushed to the upside from the yellow zone and broke the red resistance at 160.00 to make a higher high, I expect a continuation on rising to the green level at 161.500
Gj
GBPJPY Trading Idea - 3/Jan/2023Hello Traders,
Hope you all are doing good!!
I expect GJ to go Up after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
GBPJPY POTENTIAL FORECAST|TUESDAY|27/12/2022GBPJPY is currently in a nice bullish market structure. I personally am expecting this bullish structure to break as GBPJPY is very bearish fundamentally due to the sudden change in monetary policy in the yen and the weakening economic standpoint of the pound. GJ on the higher timeframe is in a minor retest to head down lower. We are currently seeing some form of exhaustion in bullish momentum and a roll over to retest the lows again is very likely. Will be looking out for a few confluences as marked in my charts for short. Take profits has been given and marked above.
GBPJPY 27/12/2022Price after a huge bearish run, formed a small structure with a resistance at 160.984 & support at 160.121. so if price closes above the resistance then it might continue pushing up correcting some of the bearish run to retest 162.267 or all the way to 163.020.
And if price respects the resistance & closes below the recent support, then it might continue pushing down towards 159.442 or even below continuing the huge bearish run.
Waiting...You can see price hovering around underneath the 160.000 level, stuck in a range, I don't want to trade here.. Look how clean the move was to the left on the last bullish impulse,
So for me if price breaks above the 160.00 with confirmation we've got a much cleaner looking opportunity (80/90 pip move) back up to 160.851, than selling from there back into the choppy range (40 Pip move) (We also have the D failing to close below 160.00 confirmation and LTF.
Whats your thought?
Waiting.. GJ looking for sells while price is under 161.000, if we get a solid break/retest i'll look for buys, but first I want to see another push up here and the candle to fail closing above the current DH, giving us a nice sell opportunity with a small SL, then aim for the $ as first target then the support and DL
Let me know your thoughts!
GBPJPY Potential Forecast | 19th December 2022Hi everyone, today I will be talking about a possible GBPJPY short trade using Smart Money Concepts for this week.
Trade idea:
1. Price is currently on a downtrend on the lower timeframe.
2. We could see clear bearish orderflow in recent price action.
3. Price could potentially head up to clear the imbalance present marked by the green zone.
4. Will be look for confirmations on M1 to M5 timeframes to enter on shorts at the green zone.
Things to look out for:
- However, I do notice that price has validated and respected the demand zone at the bottom. This serves as a risk to us as validation of the demand zone could mean for price to continue heading up and without strength to continue down.
Hence, we will await proper confirmations like a break of structure before entering shorts at our green zone.
All in all, I will be awaiting short confirmations on GBPJPY.
Regards,
Chern Yu
What happened to YEN ? Bank of Japan Governor Haruhiko Kuroda by doubling a cap on 10-year yields, sparking a jump in the yen and a slide in government bonds in a move that helps pave the way for possible policy normalization under a new governor.
The BOJ will now allow Japan’s 10-year bond yields to rise to around 0.5%, up from the previous limit of 0.25%, while keeping both short- and long-term interest rates unchanged, according to a policy statement Tuesday.
GBPJPY- Good R/R setup -long from SupportGJ is currently down. BOE raised its interest rates on Thursday by 50 BPS. GBP will get strength in coming week against its low interest rate currency counterpart (JPY). Expecting buying spree from mapped Support area or even from these levels. It will be good RR setup.
Share your thoughts
Regards,