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GBPJPY trade ideas

GBP/JPY 1-hour chartThis GBP/JPY 1-hour chart highlights a descending channel, reflecting bearish momentum but with signs of a potential bullish correction. The price is rebounding from the lower trendline, suggesting upward pressure toward the channel's upper boundary. Unique Insight: Converging Dynamics: The structure suggests a narrowing range, possibly indicating an impending breakout. Traders should monitor volume and momentum for confirmation. JPY Influence: The yen’s movement is tied to global risk sentiment, with safe-haven demand surging during geopolitical or economic instability. GBP Catalysts: UK economic resilience and unexpected policy shifts could spark volatility, potentially altering the channel's direction. This setup provides an opportunity to watch for technical and fundamental alignment ahead of a breakout.
Long
by DreamsForx
1
Gbpjpy Gann Analysis The chart provides an excellent application of the **Gann Square of 9**, highlighting critical price and time relationships. Let’s break down the analysis and key observations based on the setup. --- #### **Key Observations from the Chart** 1. **Central Pivot (198.942)**: - The pivot level at 198.942 acts as the starting reference point for price projections. - The Gann Square radiates angles (45°, 90°, 135°, etc.) to identify future support and resistance levels. 2. **Significant Angles**: - **45° (196.718)**: This was tested as a key resistance before the market shifted downward. - **90° (194.506)**: The price broke below this level, confirming it as a resistance. - **180° (190.121)**: Currently acting as support, the price is consolidating near this level. 3. **Downtrend Guidance**: - The price appears to respect the geometric lines, moving along the 45° and 90° downward angles, suggesting a structured downtrend. - Future price action will likely test the lower levels at 225° (187.947) and 270° (185.786). 4. **Time Cycles**: - Vertical lines in the chart indicate Gann time cycles, potentially predicting reversals or continuation. - The key date to watch seems to be **around January 20th** for a possible shift in momentum. --- #### **Potential Scenarios** 1. **Bearish Continuation**: - If the price breaks below the **180° support (190.121)**, it is likely to test the **225° (187.947)** and even the **270° (185.786)** levels. - This would confirm the ongoing downtrend. 2. **Bullish Reversal**: - A strong bounce from the **180° level** could see the price attempting to reclaim **194.506 (90°)**, followed by the **196.718 (45°)** resistance zone. 3. **Time Factor**: - Watch the upcoming vertical time markers for confirmation of turning points, especially near key angles. --- #### **Conclusion** The Gann Square of 9 provides a structured framework for understanding price action in GBP/JPY. With the **198.942 pivot** as the starting point, the tool successfully highlights key price levels and time cycles. For traders, the next steps should focus on: - Monitoring the **180° level (190.121)** for either a breakout or a bounce. - Keeping an eye on time markers for potential shifts in momentum. As always, combine the Gann tool with other indicators like trendlines or Fibonacci retracements to increase reliability. --- Extra : Gann Grid my way: **Disclaimer**: This analysis is for informational purposes only and not financial advice. Always perform your own research before trading. Feel free to Comment and share Wish you good luck! 🚀
by Magic_xD
GBP/JPY could break 190 supportThe GBP/JPY is displaying a bearish engulfing candle on its daily chart - and similar patterns are observed on all other major yen pairs. The GBP/JPY outlook has turned bearish as the Japanese yen gains strength amidst falling global bond yields, driven by softer-than-expected US and UK inflation data. Markets have shifted Fed rate-cut expectations forward, leading to a rally in bonds and a decline in yields across major economies. This has boosted the appeal of the low-yielding Japanese yen, especially and Japan's own bond yields have been hitting multi-year highs lately. Japan’s yields, supported by hawkish comments from BoJ Governor Ueda and potential rate hikes, have contributed to narrowing the yield gap with other nations, boosting the yen’s performance. From here, the GJ could drop to take out key support around the 190.00 in the coming days. If that happens, we could see further follow-up technical selling in the days ahead. Key resistance comes between 193.00 to 194.20 area. Yesterday's low (now broken) at 191.50 is now the most important near-term resistance to watch. By Fawad Razaqzada, market analyst at FOREX.com
Short
by FOREXcom
1
GBPJPY Point of importance GBPJPY: Key Levels and Market Structure Analysis We are at a critical juncture in GBPJPY, with multiple technical signals and patterns aligning across timeframes. Here’s a detailed breakdown of the current market environment: Weekly Timeframe • Channel Break: GBPJPY has dipped below the ascending channel that has been valid since January 2023. While the weekly close has not confirmed a full breakdown, this move suggests underlying weakness. • Key Indicators: • RSI: Currently at 45, indicating bearish momentum but not yet oversold. • MACD: Weak bearish crossover, suggesting declining momentum. • CMF: Below zero, pointing to capital outflows. • Support Zones: Should the weakness persist, the next major support could align with the 2020 ascending channel’s lower boundary at 176, a macro target that may take months to materialize. Daily Timeframe • Symmetric Triangle: GBPJPY is trading within a well-defined symmetric triangle. The price is currently respecting the triangle’s support line. • Order Blocks: A minor one-hour order block has been breached, indicating a potential move towards the 190.6–190.8 daily order block, which also aligns with the triangle’s support. • Indicators: The RSI and MACD suggest caution, but the daily structure remains bullish. 4-Hour Timeframe • Falling Wedge: A falling wedge pattern has been identified, with a rejection on January 14th. This pattern typically indicates potential for reversal, but confirmation is required. • Fibonacci Levels: • The price has retraced to the 0.382 Fibonacci level of the larger downtrend move. • Deeper retracements to the 0.786 level (188.455) or even the 100% extension would signal significant bearish intent. • Potential Breakdown: A move below the daily order block at 190.6–190.8 could lead to the next major support levels at 185 and the weekly order block at 181. 1-Hour Timeframe • Trendline Breaks: A minor trendline with limited touches has been broken and retested, followed by a sharp drop. This shows significant intraday weakness. • Market Uncertainty: The price is fluctuating near critical levels, and trading in this range is not advisable until the market provides clarity. Key Observations 1. Risk of Further Downside: Breaking below the daily order block and the symmetric triangle would be a strong bearish signal, aligning with weekly and daily weakness. 2. Upside Potential: A breakout from the 4-hour falling wedge would signal a potential reversal, providing long opportunities. Plan of Action 1. Avoid Trading in Uncertainty: The current zone is filled with conflicting signals and does not offer a clear edge. Patience is critical. 2. Wait for Confirmation: • Bullish Scenario: A confirmed breakout above the falling wedge will warrant long positions targeting 192 and beyond. • Bearish Scenario: A break below the daily order block at 190.6–190.8 could lead to further downside, targeting 188.455 and eventually 185. 3. Stick to the Trend: While the broader trend remains bullish, the current weakness and proximity to critical support levels necessitate caution. Avoid predicting reversals and react to confirmed breakouts. For many, this trade setup may not be immediately apparent, but GBPJPY is currently at a crucial point that demands patience and precision. At this stage, taking trades without confirmation could lead to unnecessary risks. We must hone our discipline and wait for the market to provide clear direction before making any moves. Remember, successful trading is not about acting on impulse but about waiting for the right opportunity to align with our strategy. Stay focused, stay disciplined, and let the market come to you. Final Note The market thrives on buyer-seller dynamics. It’s vital to remain objective and avoid fear-mongering or overreacting to individual moves. Let the market decide its direction and align your strategy accordingly. Clarity and discipline will prevail in such volatile times.
by EliteMarketAnalysis
7
GBPJPY Massive Long! BUY! My dear friends, My technical analysis for GBPJPY is below: The market is trading on 191.83 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 194.05 Recommended Stop Loss - 190.50 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
From Loss to Opportunity: The GBPJPY Comeback Trade U Can’t MissWe’re back with an update on GBPJPY, breaking down our lessons learned from a stopped-out trade and how we re-entered smarter and stronger. See how we use precise risk management, volume analysis, and Fibonacci tools to set up a 3:1 reward-to-risk ratio trade. This update covers everything from identifying key levels to avoiding common pitfalls. Watch now to see why capital preservation is the cornerstone of long-term trading success!
Short
by BlueOceanFxAcademy
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
GBPJPY HTF CONSOLIDATION. - Could we see it push higher?Having a look at weekly consolidation and the fact that we have entered weekly support, we could potentially see price push back into resistance from here. Not sure if price has completed the push into support however, the daily could indicate that a shift of momentum is imminent. Lets see if we can get a push higher from here... Need M30/H1 confirmation to look to get involved has we have intraday bearish momentum. If longs dont start, we will wait for price to push further into the lows before looking to get involved.
Long
by LeruoM
GBPJPY: Bullish Setup at Support LevelThe GBPJPY pair is approaching a significant support zone which has historically acted as a strong demand area. The overall context implies that buyers may take control at this level, leading to an upward move. I anticipate that if the price shows a clear rejection from the demand zone, the market may head higher toward the 193.266 level. If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
Long
by DanieIM
GBPJPY LONGS📈 Chart Link: 🧠 PAIR : GBPJPY 👨🏽‍🏫 Breakdown: Current Price Action: WE CAN SEE GOLD HAS HIT A SUPPORT LEVEL AND HEADED BACK TO THE UPSIDE AND WHEN ZOOMED OUT WE CAN SEE IT IS IN A ACCUMULATION PHASE IF WE LOOK CLOSELY AT THIS CHART HERE ( ) BUT WITHIN THIS ACCUMULATION IT SEEMS WE ARE AT THE SUPPORT OF IT SO THERE IS A CHANCE TO RIDE THIS PAIR ABOUT 200-300 PIPS TO THE UPSIDE. Key Support & Resistance Levels: Support: 190.467 Resistance: 207.777 Entry Strategy: I AM LOOKING TO ENTER AROUND 192.250- 200 BASED ON THE London Open Exit Strategy:IPersonally see price riding to 197 area . For This Trade Exit point is 194.500 with possibilities to close before then Potential Risk & Reward: Risk (pips/points): 33 pips risk Reward (pips/points): 245 pips reward Risk-to-Reward Ratio: 7:1 Market Conditions to Monitor: N/A
Long
by jordxche