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GBPJPY trade ideas

Market is Holding above the Support , All Eyes on BuyingHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
1
GBP/JPY Short-Term Scalping Analysis:The current price action shows GBP/JPY forming a descending trend, and it recently tested the 100% Fibonacci level near 198.056, suggesting a potential bounce area. However, the price remains under bearish pressure and could continue down to retest this level around 198.008-198.050. If GBP/JPY holds this support, we may see a rebound toward the 198.502 or even 198.885 levels, aligning with the 50% Fibonacci retracement as an upper resistance. For scalping: Buy opportunity near 198.008-198.050, targeting a rebound toward 198.250-198.500, with a tight stop below 198.000. Sell opportunity if the price rejects around 198.500 or higher levels, aiming for a retest of the 198.056 support. As this is a short-term setup, it is crucial to monitor price action closely throughout the day. Adjust stops and targets based on volatility and market reactions around these key levels.
Long
by AEL_Education
GBPJPY opportunity- Mean reversion play.If the market gains momentum, there is potential for a countertrend on GJ. Trading back to a weekly fast-moving average with the added confluence of a 50% retracement of the larger move.  Higher-risk trading against the trend, however, the market may present a shorter-term, high-RR trade opportunity. There are two options for this trade idea, depending on the degree of pullback. Trade invalidation If the price grinds higher without momentum or it moves below wave C with a lower low. 
Long
by SACT_CAPITAL
1
GBPJPY Support and Resistance Levels: Is 200.50 Within Reach?GBPJPY recently reached a target we discussed a couple of weeks ago, and the bullish trend remains intact above the 197.76 level. The price bounced from this level on Sunday, Monday, and Tuesday. If the price dips to around 198.42 but holds above 197.76, I anticipate bullish traders will likely support the price, aiming to lift it toward the resistance at 199.43. Should the price break above 199.71—the next target at 200.50 may come into play. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Long
by ThinkMarkets