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Gjshort

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
GBPJPY SELLHey Traders! Undercover Trading LLC I will be sharing a setup I have been waiting on for weeks here in this space which is GJ, so for the past few weeks GJ has been on a clear downtrend and we have seen it clearly on the daily from November 2022 till date. Having cleared our bais issue we now look forward to determining where the price will be retracing/swinging from which is a very big deal and 80% of the time we are correct. So in doing that we picked a POI which is an order block that broke structure to the downside around December 2022 which also has a lot of imbalances left to be filled. With our UCT extra confirmations checked on the order block, we selected that as our POI which we will be selling directly from. But in any case, if you wish to minimize your loss and increase your reward on each trade it is always best to trade with the 50% rule than look for lower timeframe entries but mind you, you'll miss lots of entries. That's it for GJ, cheers guys!!!! In order to avoid so many re-entries that come with refinement in POI I always advise trading off of the POI itself rather than looking for lower timeframe entries which I consider time-consuming and a rollercoaster of entries.
Short
by Undercover_Trading
2
GBPJPY LONG BIAS (SWING IDEA)Hello everyone! I have updated my GJ chart. I have realised that there was a clear sell missed on the LTF, where the white POI zone is marked. However, GJ is going to test a crucial Demand zone and i will be looking to Swing trade this once i see LTF confirmations on my chart! The buy target is very much realistic. As on monthly, GJ hitting 184 is very possible in the next year or two. Any questions, Ideas, or objections please comment down below or DM me :) Take care traders!
Long
by Nedal13
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.
Short
by CJ_GOLDPIPS