GBPJPY trade ideas
Pound-yen bounces from ¥188GBPJPY moved up after the latest test of ¥188 as it now appears unlikely that the Bank of England will cut rates this month although the Bank of Japan still seems to be on track to tighten policy in the near future. In a recent interview Andrew Bailey indicated that four cuts are likely next year; the difference in rates for pound-yen is unlikely to go below 3% until late 2025 or early 2026.
The upward crossover of the slow stochastic in oversold might suggest a possibly ongoing bounce, but so far this hasn’t really been supported by volume. The main dynamic resistance in view now is the 100 SMA around ¥192.75. Looking further ahead, the 423.6% monthly Fibonacci extension around ¥200 is likely to be a very strong resistance above which the price is unlikely to break without a strong fundamental driver.
¥183.50 would probably still be an active support if the price continues lower after the current bounce. The key data coming up for pound-yen is British GDP on Thursday 12 December.
GBPJPY Short OpportunityThere is bearish divergence on GBPJPY Chart and there is opportunity to short sell. The trend is also bearish. SL/TP can be placed at indicated levels on RR 1:1
GJ Breakout trade, Asian sessionToday's trade was a GJ short, in the Asian session at approx 00:30. The Price broke out of the range I set up and took entry on Close with SL above the breakout candle. However, before entering trade, I knew it was more of a risky trade with a lower probability of winning. When you look left for the target, there are no clear targets to aim for. The first target was right near the entry, but also wicked down further into the 2nd target. As a result not allowing for a clean set up. As the trade could have easily reversed in the other direction which it did after a while. Prior to entering the target, I knew I had to watch it closely and be ready to exit the trade at any point, as it may wick down into target range, but also reverse back up, as when you look left that is what occurred as well. As a result, this trade did not hit my TP, but had to be managed and closed with profit earlier. Always have to remind yourself markets repeat themself, but can also be unpredictable, better to take a small profit and survive for the next day. This is for education purposes only, not financial advice.
GBP/JPY Short swing 5/12Gj has retraced to 192.000, big sell pressure here to potentially continue downtrend. The yen has been steadily gaining strength due to policy changes and optimism. This is premium price to catch a move down given that the swing high at 192.520 is maintained. Also this level is a weekly zone and we are trading below it.
Potential Reversal Buy SetupHi Traders!
GJ made its way down to 188.000 and now I'm seeing a potential reversal to the upside on the 4HR TF. Price didn't break structure on the daily, so this could be a buy setup to previous Sell Stops at 194.000-195.000. I'm being patient right now and waiting for a retest around 190.500-190.200s for more confirmation.
With that being said, Let's see what we get! 🤞
Entry: 190.500-190.200
TP: 194.000
*DISCLAIMER: I am not a financial advisor. The ideas and trades I take on my page are for educational and entertainment purposes only. I'm just showing you guys how I trade. Remember, trading of any kind involves risk. Your investments are solely your responsibility and not mine.*
GBPJPY BUY UPDATE!!!!1:2 profit has been achieved
And still the sentimental looks bullish
Good luck gang
Pound-yen bounces from ¥188GBPJPY moved up after the latest test of ¥188 as it now appears unlikely that the Bank of England will cut rates this month although the Bank of Japan still seems to be on track to tighten policy in the near future. In a recent interview Andrew Bailey indicated that four cuts are likely next year; the difference in rates for pound-yen is unlikely to go below 3% until late 2025 or early 2026.
The upward crossover of the slow stochastic in oversold might suggest a possibly ongoing bounce, but so far this hasn’t really been supported by volume. The main dynamic resistance in view now is the 100 SMA around ¥192.75. Looking further ahead, the 423.6% monthly Fibonacci extension around ¥200 is likely to be a very strong resistance above which the price is unlikely to break without a strong fundamental driver.
¥183.50 would probably still be an active support if the price continues lower after the current bounce. The key data coming up for pound-yen is British GDP on Thursday 12 December.
This is my personal opinion which does not represent the opinion of Exness. This is not a recommendation to trade.
GBP JPYGBP JPY is making a bullish rectangle , after breaking the trend line. A long position can be considered on the break of bullish rectangle.
GBPJPY IS NOW BULLISH TRENDBULLISH REASONS:
.Break its last LH
.Already make HH
.Bullish Engulfing in HL
GBPJPY BUY UPDATE!!!!!1:1 profit has been achieved, now let's go for 1:2
Secure half of the profits and set the other half to breakeven
#GBPJPY 4HGBPJPY 4-Hour Analysis
The GBPJPY pair has recently broken above a key trendline on the 4-hour chart, indicating a shift in momentum to the upside. However, to confirm the breakout's validity, it is advisable to wait for the price to retest the trendline, which may now act as a support level, before entering a buy position.
Technical Outlook:
Pattern: Trendline Breakout
Forecast: Bullish (Wait for Support Touch, Then Buy)
Entry Strategy: Buy on a successful retest of the trendline, supported by bullish price action signals.
Traders should watch for confirmation from bullish candlestick patterns, such as a bullish engulfing, or indicators like RSI and MACD showing upward momentum. Place stop-loss orders below the retested trendline to manage risk effectively. Target higher resistance levels for potential gains.
gbpjpy long... bullish flag in makinggbpjpy is long , we place a buy stop at he breakout of the gbpjpy , as it has break the a parallel channel and now a retracemnt of fib is pending , so we hope for the best inshallha...
GBPJPY ANALYSIS The GBP/JPY pair tells the trader how many Japanese Yen (the quote currency) are needed to purchase one British Pound (the base currency). It is known to be a “carry currency cross”, that is a cross which is a vehicle for carry trading (one of today's most popular trading strategies). A carry trade happens when a person sells or borrows an asset with a low-interest rate in order to purchase another asset with a higher interest rate, looking to profit from the underlying interest rate difference. This strategy is heavily used in the foreign exchange market (forex)Bank of England (BoE), known to be one of the most effective central banks in the world. It acts as the government's bank and the lender of last resort. It issues currency and, most importantly, it oversees monetary policy (including interest rates). Andrew Bailey became the new Governor of the Bank of England on March 16th, 2020. Her Majesty the Queen has approved the appointment. He is widely and deeply respected for his leadership managing the financial crisis, developing the new regulatory frameworks, and supporting financial innovation to better serve UK households and businesses.
GBPJPY : New lineThe price is a bit enthusiastic.
Price is not bouncing from the line yet as I would expect. Price is hugging the line instead.
The blue line is added to show the extension of the new 'top'.
Trade carefully.
ALWAYS WAIT FOR PRICE TO COME TO YOU - DO NOT GO AFTER IT.
The R/R looks good if we stick to the plan.
Good luck.
GbpJpyi think its going for sell because make double top and tested that point in 15m tf and make a red bearish candle..
Lets see
GBPJPY SELL ANALYSISHere on Gbpjpy price has been in down trend and was able to make a retrace back and is likely to coninue falling in other to complete support zone so trader should go for SHORT with expected profit target of 188.504 and stoploss of 191.720 . Use money management
GBPJPY BUY!!!!!GJ sentimental is bullish today, and early morning it just grabbed liquidity of the Asian session low. Now, let go long
We first aim for 1:1 the 1:2 after securing some profits
GBPJPY double top found Double Top Formation in GBPJPY
A bearish Double Top pattern has formed in the GBPJPY currency pair, indicating a potential reversal of the uptrend.
Key levels to watch:
Neckline support: 190.125
Resistance: 191.500
Target: 189.500
The Double Top pattern is characterized by:
Two consecutive peaks at similar levels
A decline between the two peaks
A potential breakout below the neckline support
A breakout below the neckline support (190.125) could trigger a short position, targeting 189.500.
Keep a close eye on GBPJPY for a potential breakdown!"
BEST WISHES TOM 😎
GBPJPY Short - 4 Dec Price retraced into Daily supply zone.
Took out H4 liquidity.
M15 2 candles Choch, retraced into supply zone.
Ready for take off
WARNING: GBPJPY (IRRATIONAL MARKET)Today is a good market to watch or play from a live/demo enviroment. Markets are behaving irrationally creating ghost trends/reversals off no levels or fake levels.
Take sometime to learn how the predatory algos think and protect your bank!
Long idea for GBPJPYTrend reversing on a daily support 61.8, when it is pulling back on 1h chart opening buy position looks good. Risk reward 1:5. Let’s see !
