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British Pound / Japanese Yen

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GBPJPY trade ideas

GBPJPY may pivot lowerGBPJPY displays a technical weakness, consolidating in the coil (a low-volatile trading range) above the dynamic support area. The recent strength of the British pound might be temporary. At the same time, the Japanese yen is strategically supported by the hawkish monetary policy of BOJ and ongoing inflation in Japan (which had reached 3% in August). From the technical side, GBPJPY is locked in a triangular formation (chart pattern), and the new wave selling might be triggered from the possible retest of the higher boundary of this formation. Of course, the sell-off can start without a trigger, but the retest is usually a common trigger event. Always do your research and manage risk at all times!
Long
by Stanislav_Bernukhov_Exness
1
GBPJPY Potential Trend ContinuationThe market is currently testing a key psychological support level at 193.000 after a period of consolidation following recent bullish momentum. If GBPJPY closes above the 194.000 level, it could indicate continued upward movement, setting the stage for a retest of the resistance zone above this level. Given the recent bullish sentiment, a clear break and close above 194.000 would likely signal further bullish moves, potentially pushing the price toward higher levels within the resistance zone. The target is the resistance at 194.500
Long
by RTED_Investing
GBP/JPY : Technical Analysis and a signal!hello guys! it is a risky position!! Rising Channel: The price has been trending upward within a well-defined ascending channel. However, it is currently testing the upper boundary of this channel. Resistance Zone (Red Box): Strong resistance is seen around the 196.117 level. The price attempted to break through this resistance but faced rejection multiple times, suggesting a bearish reversal could be imminent. Support Levels (Green Area): There’s a key support level of around 187.953. This support aligns with the lower boundary of the ascending channel, making it a potential target for any upcoming bearish move. Bearish Momentum: The price shows signs of weakness as it struggles below the red resistance zone. A corrective move downwards is expected, with the first target around the 190.000 psychological level, followed by a potential drop to the 187.953 support zone. Risk-Reward Setup: The chart shows a clear risk/reward scenario, where a break below the 194.462 zone may trigger a sell-off towards lower levels.
Short
by melikatrader94
2
GBPJPY - 4hrs ( Sell Trade Target Range 300 PIP ) 🟢 Pair Name : GBP/JPY Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money 🟢 Key Technical / Direction ( Short ) Type : Mid Term Swing ——————————— Bearish Break 194.250 Area Reasons - Major Turn level - Pattern Break - Visible Range Lvn - Day / low - Month High Reversal Bullish Reversal 191.000 Area reasons - Major Turn level / D - Visible Range Hvn - Visible Range / Poc - Fibo Golden - Choch Zone
Short
by GoldenEngine
1
Technical Analysis: GBP/JPY – Key Levels and Strategic SetupsThe GBP/JPY pair has been in a consistent uptrend since early 2023, following a primary ascending channel. However, the recent price action around key resistance levels indicates a potential shift. Primary Trend: The pair has respected a significant long-term support at 180, which has held strong throughout 2023. Recently, the price tested resistance around 196, potentially forming a reversal or consolidation pattern near this critical level. Technical Indicators: The TDIGA indicator on the daily chart signals a loss of bullish momentum, hinting at possible exhaustion or a reversal. While moving averages show a slight upward tilt, they indicate a mild bullish bias but without strong continuation force. Chart Pattern A symmetrical triangle formation suggests compression, often preceding a breakout. This setup signals a potential breakout in either direction. The 196 support zone remains key, and a break below it could trigger more aggressive selling. Investment Strategies: 1. Bullish Breakout Strategy Entry: Buy after a breakout and close above the triangle’s resistance trendline at 196. Stop Loss: Below 190, under the immediate support. Risk-Reward Ratio: 1:1 or higher. Rationale: A breakout above 196 could lead to a rapid upward move due to increased liquidity, with potential for quick gains. 2. Resistance Reversal Strategy Entry: Short the pair if there's a clear rejection pattern at resistance (e.g., doji or inverted hammer). Take Profit: 185.000. Stop Loss: Above 197.000. Rationale: GBP/JPY has tested the resistance multiple times without breaking through. A failure here could prompt strong selling pressure, driving prices lower towards previous support zones. 3. Buy on Pullback Entry: Buy near the 195 support if signs of reversal appear. Take Profit: 200. Stop Loss: Below 190. Rationale: The 196 level has acted as a strong support, offering a good buy opportunity on any pullback, provided there are signs of renewed buying strength. Final Thoughts: The best opportunities lie at the edges of the triangle formation—buy after a confirmed breakout, or sell if resistance is rejected. The 196 support zone also offers a compelling low-risk buy opportunity. As always, watch for price action confirmation on lower timeframes.
Short
by MrVNpt
GBP/JPY October Strategy: Bearish Reversal Confirmed with TDI GBP/JPY October Market Analysis and Trading Outlook The GBP/JPY monthly structure for October presents an open high-low-close pattern, signaling a potential sell setup. This bearish outlook has been confirmed by the TDI (Traders Dynamic Index) cross, indicating that it is now appropriate to consider sell entries. Key Technical Highlights: 1. Daily Timeframe Open High Structure: On the daily chart, the price action for the month of October has established an open-high structure, which is often a precursor to a shift in momentum, supporting a bearish setup. 2. Consolidation and 'M' Pattern Formation: The price has been ranging at the highs, creating a period of consolidation. This consolidation resembles an 'M' pattern, a classic reversal formation seen at market exhaustion points. This pattern is significant as it suggests a potential reversal from the current high, reinforcing the bearish outlook. 3. Bearish TDI Cross Confirmation: A bearish TDI cross has occurred, signaling the presence of sellers in the market. This cross is a crucial technical indicator that validates the entry for sell positions. Take Profit Levels: - Take Profit 1: 193.000 - Take Profit 2: 192.000 Trading Advice: Although the bearish TDI cross has provided confirmation, it is important to remain patient and ensure that other market conditions align with this setup. Always wait for valid signals and maintain proper risk management when executing trades. If you find this analysis helpful, please like, comment, and follow for more updates. I’ll be sure to follow back. Best of luck with your trading endeavors! ---
Short
by ezeepips