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Gjshort

GBPJPY, possible outcomes?A quick outlook on GBPJPY . Potential opportunities. GBPJPY is currently trading at around 191.000 . We are looking at two possible outcomes on this pair. We are still in a downtrend on HTF (Higher Time Frames ). However if we start breaking above 191.500 we could see a reverse happening on the pair. Scenario 1: SELLS at the break of 190.400 . We broke 190.400. That would confirm sells and we could continue the downtrend and target previous lows sitting at around 188.000 flat. Scenario 2: BUYS at the break of 191.500 . We broke above 191.500 confirming the bullish flag we had on H1 and we could start reversing on GBPJPY . We would be targeting higher levels sitting at 192.500 and higher at 193.300 . Personal opition: The direction for now is unclear until we break our mentioned key levels. A safe sell trade could be taken at the break of 190.400. On the other hand a safe buy trade could be taken at the break of 191.500. We are more on the buy side at the time of writing this. Be patient and stay tuned for updates on this pair. KEY NOTES - GBPJPY is in a downtrend on HTF however it’s showing signs of a possible reverse. - Breaks above 191.500 would confirm buys. - Breaks below 190.400 would confirm the trend continuation and further sells. Happy trading! FxPocket
by FxPocket
GBPJPY ANALYSIS [W/B 10/06/24]GJ has been interesting to me the last few weeks. It has a dilemma that it is going through. As seen within the POI, there is plenty of imbalance which could force price downwards, with confluences such as structural breakdown and imbalances left over downwards in the demand area - however price has - within the last significant periods - been trading upwards. I agree that if the upper zone of this POI is broken - we could well see a very lengthy and strong bullish run - especially as on the weekly chart there was a lot of imbalance left over. If we see structural breakdown to the downside I am expecting any of the drawn out TP's to be taken.
Short
by saintprincevvs
1
GBPJPY Analysis (18th April 2024) Market Analysis PT1/2 (18th April 2024) GBPJPY Analysis On the 4 Hour timeframe, price action has created a WCR. This is a vaild WCR as it meets all 3 criterias of: - Range on the 1hr/4hr/Daily timeframe - Range is at least 100-150 Pips wide - More than 2 taps on Each Support/Resistance. Looking at the 1 hour timeframe, price action has created a 1 hour Change of Character after failling to break past resistance level. What i am personally looking for is for price to sell reject of either the gold fib level from the swing high to the swing low, or come up alittle higher to retest the 1 Hour Orderblock before looking for sells. Once one of these 2 areas of interest has been tapped, i will be looking for 5 minute/ 15 minute Change of Character before looking to sell all the way down to the support.
Short
by CallistoFX
GBPJPY Analysis (16th April 2024) Market Analysis PT2/2 (16th April 2024) GBPJPY Analysis On the 1 hour timeframe, price action created a bearish Change of Character after rejecting off a psychological level at 192.700. In the process of forming a 1 hour CHOCH, price also created as 15 minute orderblock that hasnt been tested. I am expecting price to retrace towards the 15 minute unmitigated orderblock before looking for potential sell confirmations during the london session. Do keep a lookout for this potential set up!
Short
by CallistoFX
GBPJPY Analysis (11th April 2024) Market Analysis PT2/2 (11th April 2024) GBPJPY Analysis On the 4 hour timeframe, price action rejected off the 4 hour Orderblock and created another bearish Change of character, This shifts my bias from bullish to bearish on the 4 hour. In the process, a 4 hour Fair Value Gap has been formed and if you drop to the 1 hour timeframe it also overlaps with a 1 hour Fair value gap. This will be a high probability area for me to look for potential SELLS from. Ideally i want to see price tap into the 4 hour FVG and create a 5/15 minute Change of Character before looking for sell on GJ.
Short
by CallistoFX
GBP/JPY SellGJ has broke below structure and closed below zone on 4H timeframe. Also formed a Head n Shoulders and closed below the neck line. Zooming on the 1h we can also see structure broken to the downside and closed below zone. Price retraced and shown rejection @ 190.600 zone by forming a Doji. Having seen price rejecting zone I zoomed into the 30mins and 5 mins where I was looking for a Break of structure to the downside and a retest which happened at 12.30pm Uk time also pre-NY. Seeing this added confluence of BOS on 5mins I entered sells @ 190.57 with sl@190.900 (Risking 33pips). TP1. 190.00. TP2: 189.85 TP3:189.700 TP4:189.55 * Where has the market moved since I entered my trade? Slight profits * If I looked at the market now, would I take the same trade? Yes * How do I feel about my trade? Optimistic and confident * What do I like about this trade ? multiple confirmations * What do I dis-like about this trade now? took bit of time before showing volume * On a scale of 1 to 10, where would I rate this Trade now? 8/10 * If I were not in a trade now, would I take the opposite trade ?no
Short
by mrachaw
GJ major sell possibilityGoing over the current market structure it has rejected the continuation of the uptrend 5 times in my marked up zone.. that being said I think we might be in for a major move down. I have marked my entry below the lows of the liquidity areas and my stops halfway up the highs to minimize risk but still allowing the market to grab liquidity before moving bearish. *Other scenario would be if the market passes my marked zone we could be in for a continuation of an uptrend*
Short
by Noot-Trade
GBPJPY POSSIBLE FALL ?hi traders , since the summer gbpjpy has been trading inside a channel on the daily tf . we can see the price approaching the sell area where we have a resistance + bearish trendline it is very likely that we see a bearish move from there id wait for extra confirmation. right now the only comfirmation we have is the close of friday candle that closed as a bearish spinning top and the rsi that is indicating a bearish divergence and weakening of price. trade safe homies!
Short
by xAB777
1
GbpJpy -> Short Squeeze Over?Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of GbpJpy 💪 After GbpJpy broke out of a major long term monthly triangle formation all the way back in 2021 there has been a major rally of roughly 4000 pips towards the upside on GbpJpy. However by looking at the weekly timeframe you can see that GbpJpy is a little bit overextended at the moment so I do expect a retracement at least back to the 0.236 or 0.382 fibonacci retracement level. And it seems like with today's candle GbpJpy is breaking daily structure towards the downside so I am first waiting for another bearish push and if we then get a retest of the previous structure zone and some bearish confirmation I then do expect another daily bearish drop to retest the weekly fibonacci levels. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
Short
by basictradingtv
35
GBPJPY Price Action Short Set-upLooking at the extreme push up, expecting a retrace back down from the 171.2 range, with a sell limit placed to catch the entry. This is the ideal price action entry where price will come to retest the break of the short term trend line and also a previous short term support, that should turn to resistance, and begin to make its way down from there. Price testing the opposite side of a trend line tend to have a high chance of working out, and paired with the support becoming resistance, makes this a high probability trade, and also lines up with price action typical behavior. Stop set for 171.88, target set for 167.3, the top of a demand area where price launched out of before. Also, just looking from another perspective, we have a double top, which signals a trend reverse, which should encourage sellers to come into play, and with a clear zone below for buyers they should be waiting for the demand area below to begin buying back in. This trade looks to capitalize on the general assumption the market takes back gains it gives out quickly. At the target would be the most likely place for price to rise from again if it does not break through the entry/stop levels. Using a mild stop distance for the set-up, using a 35 pip stop would be more aggressive, where about a 120 pip stop to be above the highs would be a more conservative stop level.
Short
by ForexStoryteller