Possible breakout for GBPJPYIf GBPJPY can close two real bullish bars above 195.5 on the 4-hour chart consecutively, then there is a high probability of reaching 198.5
GBPJPY trade ideas
GBP/JPY on the Rise: Key Levels to Watch!The USD/JPY hit a 10-week high on the 10th, driven by market confidence that the Fed will be cautious with rate cuts. The resilient U.S. economy is boosting the dollar, while rising U.S. bond yields could push the yen toward 150.
On Thursday, the dollar briefly touched 149.54 JPY, the highest since August, before slipping 0.18%. Strong U.S. job data reduced expectations for Fed rate cuts, in contrast to Japan’s dovish tone, as new PM Shigeru Ishiba and BOJ officials dampened hopes for an October rate hike, weakening the yen.
Two key factors to watch: the Fed’s rate decisions and Japan’s parliamentary elections on the 27th. If Ishiba doesn't secure a strong victory, internal party challenges could affect BOJ policy.
Forecasted GBP/JPY levels (based on Fib Channel method):
194.689
197.821
201.695
207.958
Wishing you success in your trades!
GBPJPY going down looking to see how it plays outGBPJPY looking bearish, watch out for pull backs, The british pound is looking beearish, u can seee by the economy
GBPJPY short sellIf price should drop below our support level then we cloud see more bearish movement towards our target area.
GBPJPYSince we got many questions regarding GBPJPY here is our overall view on it.
GBPJPY has been struggling to break an important KL (Key Level) 195.971 . As of now we are trading below that KL. Breaking above it would give us a nice opportunity to enter in buys . However , if we continue to trade below 195.971 , and failing to break it, we could see more downside on the pair. Breaking below 193.990 and 193.290 would give us a nice opportunity to sell , possibly all the way down to the bottom of the range where our PBA 1 is sitting at roughly around 190.000 .
As of now there is no clear indication for buys or sells. Be patient and remember, sometimes the best trade is no trade at all.
We will be patiently waiting on breaks of our mentioned levels and we will post an update accordingly.
KEY NOTES
- GBPJPY is trading below an important KL.
- Break below 193.990 and 193.290 would confirm sells.
- Break above KL (195.971) would result in higher highs and confirm buys.
- No trade opportunity now, breaks should be waited on.
We would also like to take this chance to thank all of you for your support!
Happy trading!
FxPocket
Where will GBPJPY go next ?, 4hrWe have not had a clear direction for the pair since the big fall. We have been consolidating. But now we have crossed the major resistance at 193,510 and made it a solid support which means we can depend on that level for our next prediction on the direction.
Currently we a looking at an uptrend meaning that we are looking at buying opportunities but only if the pair gets enough momentum to cross the resistance at 195,445. A break above and retest will confirm the buying opportunities for the rest of the week. While a break below the support at 193,510 will a signal foe a change in direction and will be our selling setup.
But so far our main trade will be a buy.
GBPJPYNot a signal but what I see happening , overall is bullish but I think the buyers LQ need to be taken on the 4hrs.
We have taken fridays daily high aswell.
I am in a sell until 194 area but will monitor it as it moves .. then will take my buy position
#GBPJPY 1DAYThe GBPJPY (1-Day) chart is displaying an uptrend channel resistance pattern. This occurs when the price is moving within an upward-sloping channel and is currently approaching the resistance level, which has been established by previous highs in the trend.
Key Observations:
- The price has been consistently making higher highs and higher lows, following a well-defined ascending channel.
- The pair is now near the upper boundary (resistance) of the channel, where sellers typically step in.
- Multiple rejections from this resistance in the past suggest that the market may respect this level again, providing a potential sell opportunity.
Forecast:
A sell is anticipated as the price nears the channel resistance, with the expectation that it will reverse or correct lower within the channel. Traders should look for bearish confirmation, such as a reversal candlestick pattern or a break below key moving averages, to confirm the entry.
Key Levels:
- Resistance: The upper boundary of the channel.
- Support: The lower boundary of the channel where price might target during a correction.
Risk Management: Place stops above the resistance zone to protect against potential breakouts. Targets can be set near the mid or lower channel boundary.
Sell OpportunityInstrument: GBP/JPY
Position: Sell
Entry: 195.220
1st Target: 191.875
2nd Target: 188.100
Stop Loss: 196.880
Rationale:
The GBP/JPY pair is exhibiting signs of a bearish trend, with recent price action indicating a potential downward movement.
GBP/JPY For Bullishgo long now
or
wait for break current resistance at red arrow and after broken it and pullback to retest that level then go long
- General Trend is Up Trend
- Current Resistance is High Resistance and it retested more times so may be broken at that time
- wait for retest and go long
- if you see price action with rejected at 15M then go short
have fun :)
GBPJPY POTENTIAL SELLWe are currently at the key 195.000 level on GBP/JPY. Looking at the historical data, there is potential for a double top formation. 100 pips potential profit on this entry
GBPJPY IDEA
Support levels: 193.5, 191.7, 190.0
Resistance levels: 195.5
The acutal situation on the chart is directed towards the continuation of the movement. The market structure is changing, the fundamental background is on the side of the buyer. We are waiting for the breakthrough of the key resistance (trigger) and the continuation of growth...
GBPJPY is in the Down TrendHello Traders
In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET
today GBPJPY analysis 👆
🟢This Chart includes_ (GBPJPY market update)
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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
This will go much higher will be buying from lowsprice is in the weekly range next in the other range. COT for the GBP is bullish and for the JPY also Im a buyer, but would like to see the liquidity trap first. Otherwise, I stay off.
I will be looking to position myself with my students and followers as highlighted on the chart if we get the confirmation.
Accumulation / Manipulation / Distribution
- No liquidity raid = No trade
- Never buy high and never sell low
“Adapt what is useful, reject what is useless, and add what is specifically your own.”
Dave FX Hunter ⚔
GBPJPY Long - although delta is not in favor of longs, I like the structure. ideally I would like price to pull to POC and then go long. but if I see volume coming on LTF, then I will look to go long.
GBPJPY After we just saw a break of the uprising channel to the downside
We are expecting a re-test on its lower boundary at resistance zone (196.000) then from there the probabilities are 65% to 35% the market will move down or up respectively
GBPJPY View!!FX volatility is a key, yet unknown parameter of an FX option premium, so dealers use implied volatility as a stand in. If actual volatility matches implied volatility over the life of that option it should cover the premium, with the disparity potential making FX volatility a tradable asset. Implied volatility therefore represents the expected realised volatility and should demand additional premium if its expiry includes a high volatility risk event, such as an election.
Historic volatility is actual/realised volatility over a particular time frame in the past and can provide a fair value measure upon which to gauge implied volatility.
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My bias on GJ going longGJ to me is still in bullish momentum. I considered this internal price action as a gathering of liquidity for the next bullish moment
GBPJPY BUY SETUPPrice is currently forming a bullish triangle pattern and we anticipate a breakout above the resistance level and continue with the upward trend. BUY!!!!
GBP/JPY BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GBP/JPY is trending down which is clear from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a great trend following opportunity for a short trade from the resistance line above towards the demand level of 182.685.
✅LIKE AND COMMENT MY IDEAS✅
GJ Short based on fundamental and market structure.
1 technical reasons.
chart pattern and 4 hour strong resistance area.
2 fundamental reasons.
Key Japanese macroeconomic indicators are stronger than the UK.
Exit area 195.500 - 195-900
