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British Pound / Japanese Yen

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GBPJPY trade ideas

GBPJPY - LongAs of 22 Jan 2025, the market sentiment for GBP/JPY is mixed but leaning towards bullish The current support levels are around 190.5, 190.0, and 189.5, while resistance levels are at 192.5, 193.0, and 194.0. The pivot point is at 191.8, and the market price is above this pivot point, supporting a bullish scenario Overall, while there are some concerns about overbought conditions, the strong trend indicators and momentum suggest a positive outlook for GBP/JPY at the moment.
Long
by StevenCcc
NAS100 | Neutral with slight bullish lean Key Observations: 1. Moving Averages: • The chart has a red line (likely a longer-period moving average, such as the 200 EMA) and a blue line (likely a shorter-period moving average, such as the 50 EMA). • The price recently crossed above the shorter moving average, indicating a potential short-term bullish momentum. • The price is testing the longer moving average from below. If it breaks above, it may signal a potential trend reversal to the upside. 2. MACD: • The MACD line (blue) has crossed above the signal line (yellow), which is a bullish indicator. • The histogram bars are now positive, indicating increasing bullish momentum. • The MACD line and signal line are still below the zero line, which suggests the pair is coming out of bearish momentum but hasn’t fully transitioned to a bullish trend. 3. Price Action: • The pair shows a rounding bottom pattern, suggesting a reversal of the previous bearish trend. • It’s currently attempting to break resistance at the 192.00 level. • The recent low around 189.33 serves as a key support level. 4. Overall Trend: • The broader trend is bearish, as evidenced by the price being below the longer moving average for most of the chart. • The recent price action and indicators show signs of potential recovery, but a confirmed bullish trend would require a clear break and close above the longer moving average and recent highs (around 193.00). Key Levels: • Resistance: 192.00 (current level), 193.00, 194.00. • Support: 191.00 (psychological level), 189.33 (recent low). Potential Scenarios: 1. Bullish Case: • If the price sustains above 192.00 and the longer moving average, a move toward 193.00–194.00 is likely. • Watch for continued positive momentum in the MACD histogram and a crossover of the MACD lines above the zero line. 2. Bearish Case: • If the price fails to sustain above 192.00 and the longer moving average acts as resistance, the price may retest 191.00 or even the support at 189.33. Recommendation: • For Buyers: Wait for confirmation of a breakout above the 192.00 resistance and the longer moving average. • For Sellers: Look for rejection at 192.00 or the longer moving average, and target the 191.00 or 189.33 support levels.
by AutoMarkets
Trading minute impulseOn the minute timeframe of GBPJPY at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
Long
by syomking76418
GBP/JPY - Preparation for the Interest Rate Hike on Friday - BOJHi guys , we would be looking in a shorter term trade on the GBP/JPY looking to chase at least 100 pips in a down turn , we have a positive expectation that the Bank of Japan would hike the interest rate on Friday from 0.25 to 0.50. I do agree that 25 basis points isnt a lot , but in a status that it took BOJ two years of sitting on negative interest rate to finally start balancing their sheets and looking to increase it, would give a positive approach into a better stability for the Japanese economy and more specifically the Japanese Yen! Entry: 191.00 Target: 189.800 As always my friends happy trading! P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my community so you can follow up with me in private!
Short
by DG55Capital
Ghost Traders FX GBP/JPY Bearish Trend Forming [SHORT]With the BOC about to make an interest rate decision change not seen since the 2008 financial crisis, it really does leave the market to guess... are we going to see another HUGE drop like we did in July last year. Bearish structure looks to be forming, but could still see a sweep above before continuing down, alternatively if price puts in a new low I believe it's much more profitable for big money to send this to 178.75 before the potential of a long-term bull trend continuing. Trade Record for GTFX stands at 126 wins, 17 breakevens, 7 losses with a 94%+ W/R & +2670 pips gained. Best of luck to everyone.
Short
by Ghost_Traders_FX
GBPJPY📊 GBP/JPY 2H Chart Analysis & Signal 📊 The pair has faced rejection from the 191.252 resistance level, indicating a bearish sentiment. If price sustains below this zone, a further drop is expected toward lower support levels. Trade Setup: 🔹 Sell Zone: 190.700 - 191.252 🔹 Take Profit Targets: TP1: 190.326 TP2: 188.536 TP3: 187.000 🔹 Stop Loss: 191.252 (Above resistance) 🔹 Entry Confirmation: Wait for a clear rejection or bearish confirmation around the resistance zone before entering the trade. ⚠️ Risk Management: Always secure profits using break-even levels once the trade moves in your favor.
by FOREXQUEEN_1