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Gj

GBPJPY Buy OpportunityGBP has retraced heavily against the Yen to a perfect buy opportunity for a long. Yen has had a strong few weeks having hit a critical resistance level against the USD, and is now at a critical point against most pairs. The fundamentals support a strong GBP, which is contrary to the dovish sentiment coming from the Japanese Central Bank - the Yen is a low yielding currency that is typically used as a safe haven currency during times of crises. With the pandemic over most currencies are now gaining heavily against the Japanese Yen.
Long
by ZakTheMak
1
GBP/JPY Daily Forecast 16th AugustHello traders, This is the Daily forecast for GJ. Lately we've had huge selling pressure on the market. I don't think we are done yet but very well would be. In my eagle eye I see us taping in to 149.5. But not today my friends. For today I have set 151.4 to 151.2 as the Premium buys area where I think the buying pressure will likely hit the market. Break of 151.516 would give me a indications of sells to 151.4. A small range to trade but I set it out anyway. I set out 151.642 to 151.740 as a no trade zone. I don't suggest to take trades there as there can be manipulation happening. Instead I set out break of 151.754 as my level to look for buys till 152.462. Let me know in the comments what do you think of GJ? Best regards, LoneFX (CocoTradesFX)
by Lonefxer
GBPJPY Swing Short - It will continue the downtrendIf you like this idea, like it and follow me for more. Colour key: Blue = Monthly, Pink = Weekly, Grey = Daily/4H/1H As you can see, i've marked out several key supply and demand (S&D) zones, as well as key support and resistance (S&R) zones, from the monthly and weekly timeframe. There is also an upper trendline which price has been following and respecting for many weeks now and until it is broken, i have a bearish bias for this pair. I've drawn a path that i believe price may follow based on the S&R levels and S&D zones that i've marked out. On this daily timeframe, you can see a triple top pattern forming at level 153.460, which suggests price will dump soon. A head and shoulders pattern is also somewhat forming on the weekly timeframe, which also suggests a move downwards. I myself am already entered this setup, but i will be taking partial profit at key levels and re-entering positions at retracements with confirmation. Updates to follow, follow me to see them.
Short
by darbova
2
GBP/JPY 13th August FORECAST Hey-hey This is my forecast for GBP/JPY. Looking at the daily we can see that we had a big bearish candle to the downside, but it has no bottom wick. This could indicate that we will be having a bullish pressure coming in to the markets soon. Also we left a quite a bit imbalance on the table on the 4-hour chart. From 152.578 to 152.887 - 30 pips imbalance to be filled, if filled fully maybe only for 50%. Okay talking about the day trading formula we can see that we found some what of a support from 152.117, I would not suggest to take buys if we haven't broken 152.349 with momentum or if we haven't retested the 152.117 for the clear confirmation that the level will hold. I would buy the market from 162.349 all the way to 152.644. If we break the 152.644 I would hop back on the train and ride it all the way from 152.657 to 152.918. This is how I see it going if it would happen that the bullish pressure will kick in! We might very well could be getting a rejection from the 152.544 and just sell the market down all the way to the premium level of 151.917 or the major support 151.600. GJ is a very delicate pair right now to trade. So be very careful and cautious. Don't let this pair fool you right now! It has broken out of its very nasty range but it may very well go test the range - hence why the buys. Thank you guys for listening and take care, I wish you a good trading day and upcoming weekend! Let me know what do you think about the GJ? Regards, LoneFX
by Lonefxer
Another GBPJPY Swing ShortIf you like this idea, like it and follow me for more. Colour key: Blue = Monthly TF, Pink = Weekly TF, Grey = Daily/4H TF. I'm trying out a new strategy which puts a larger emphasis on the bigger picture i.e. the monthly/weekly trends. As you can see, i've marked out several supply and demand (S&D) zones where price has reacted in the past. I've also marked out a trendline to emphasise the fact that GJ appears to be in a downtrend. If price comfortably breaks this trendline then my bearish bias has been invalidated. Until then, i intend to sell all the way down to the bottom zone, which is a major monthly S&D zone. Some of the smaller zones before it will act as areas to take partial profit. Updates to follow, follow me to see them.
Short
by darbova