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Poundjpy

Do technicals point to more downside for GBPJPY?This most recent week, we saw GBP/JPY following the same bearish direction as the previous three weeks, with its strongest impulse happening during Wednesday's New York session. When looking at the weekly time frame, this pair has been in an uptrend. However, it is fast approaching a breakout of this upwards trendline, which has held prices up for the past couple of years. Technically we can look at the hourly chart and see the adherence the price showed to the Fibonacci and Exponential Moving Average. Looking at the most recent hourly range, we see GBPJPY retrace above the week's opening price during Monday's New York session to the 61.8 level. In that area is the EMA indicating another confluence for a move down. Price didn’t return to that area, with only two other weak retracements shown before the sell-off. Fundamentally speaking, there were no high impact news events for either currency last week. However, the UK has had its hands full with several factors. Brexit issues with Ireland continue, and numbers show the economy shrank at the end of March. Factor in that the Japanese Yen is typically seen as a safe haven, and the bearishness in this pair isn't too surprising. The coming week for GBPJPY Looking ahead at this upcoming week, it is full of news events for the GBP, with monetary policy report hearings happening Monday. This is followed by unemployment, CPI numbers, and retail sales later in the week. Of course, the most critical report is CPI, which I released on Wednesday. UK's CPI for April is expected to rise two percentage points to 9%, from 7% in March. The significant economic report from Japan is released at the end of the week. Japan's April CPI is released on Friday, and the market consensus is that it will rise to 1.5% from 1.2% in the previous reading.
by BlackBull_Markets
GBPJPY - BUY OPPORTUNITY ARISING Hi traders. Planning on longing GJ if it fails to break above the pink resistance level and also starts to fall back down, towards the green support trend line. If the blue support level holds, I will plan on placing a long trade for this pair. If this support level does not hold, then I plan on placing a long from the next green support trend line drawn below. This is just technical analysis . Do not follow this trade blindly! If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. Please drop a follow! I need reputation points!!
Long
by TheFinancialTRDR
GBPJPY Short IdeaHello traders. GBPJPY is approaching the red resistance line drawn. I believe we could be looking to enter shorts from this region. I would aim to retest the support trend line drawn within the next day. Would suggest waiting a bit longer until the red resistance or higher is tested to then open a short. I think we may, in an unlikely scenario see a push to the purple trend line before entering a short. I would expect a slow push down. I would recommend taking profits partially once every support/resistance zone is tested. Hope this plays out. This is just technical analysis . Do not follow this trade blindly! If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. Please drop a follow! I need reputation points!!
Short
by TheFinancialTRDR
1
GBPJPY WEEKLY SWING TRADE! (1000 PIPS?)Hi fellow traders. Considering that GJ has tanked significantly from its weekly highs a few months ago, all in the region about 140.000(+), I think now might be the perfect time for a reversal. RSI has also tapped the oversold region from last month, it might be time to see it go up. I believe we could possibly see a long trade that could play out within the next few weeks in order to approach the outer resistance trend line drawn in black. I would aim to enter slightly lower than the current market price, around the region of 133.000 - 133.500 or lower. A perfect entry with a tight stop loss could prove to provide invaluable profits. A perfect break of the purple resistance drawn could help in providing a long bias for the weeks ahead. This is just technical analysis . Do not follow this trade blindly! If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX & Crypto market, trying to learn FX & Crypto, and I'd appreciate any help people may offer! Please drop a follow! I need reputation points!!
Long
by TheFinancialTRDR
1
GBPJPY Quick Push UpHi fellow traders. Considering GBPJPY has just tapped the trend line from below acting as support, I plan to swing this trade to the upside where the upper resistance trend line lies. Aim to enter slightly lower than the current price, setting a buy order around 133.350. Could possible retrace lower and then move to the upside, so be ready to buy in at a lower possible price. Keeping a stop loss on this trade around the red support trend line. Hope this plays out well. Good luck! This is just technical analysis . Do not follow this trade blindly! If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX & Crypto market, trying to learn FX & Crypto, and I'd appreciate any help people may offer! Please drop a follow! I need reputation points!!
Long
by TheFinancialTRDR
GBPJPY - MAKE OR BREAK LEVEL?Hi fellow traders, Taking a look at GBPJPY, we are currently in a scenario where we could look to ideally target LONG trades. Though this may be on a monthly time frame, we can see we are approaching and now touching a critical support trend line. It appears that we are in a make or break scenario now, with the high likelihood of a fake out occurring. I would think that this pair should bounce from around 129.000, looking to accelerate as we have been in a solid bearish monthly phase for nearly half a year, now touching PA from around 2016-2017. There is no real significant fundamental news coming out, so this trade is mainly PA & TA. If we do not hold this support level, we have room to swing back lower towards 127.100, a level found from the weekly time frame but I do not consider much of a possibility. Personally, I would consider longs from around 128.000 - 129.000 (enter around 128.500 if price reaches this level) towards the 130.000 as a take profit level as a short term swing trade. There is lot of room for manipulation with this pair. The monthly level is key and I would be cautious with this trade, entering with extremely tight stop losses. If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX & Crypto market, trying to learn FX & Crypto, and I'd appreciate any help people may offer! Please drop a follow! I need reputation points!!
Long
by TheFinancialTRDR
GBPJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=142.2. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=143.45. TP4: R2=144.2. Set the stoploss of these orders at breakout of S2=141.95. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=141.95. In this situation, there is an expectation to reach the target S3=140.85. Set the stoploss of reverse orders at breakout of S1=142.2. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity
1
GBPJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.2. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=148. TP4: R2=148.4. Set the stoploss of these orders at breakout of S2=146.95. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=146.95. In this situation, there is an expectation to reach the target S3=145.85. Set the stoploss of reverse orders at breakout of S1=147.2. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you! ALL OF OUR INTRADAY FORECASTS ARE VALID FOR 24 HOURS FROM RELEASE TIME.
Long
by ForecastCity