GBP/JPY 15-Min: Resistance Break Imminent on Economic News GBPGPY at channel resistance! But due to this morning economical growth data, a break up might push the price even lower ! So watch closely for potential downward moves!
GBPJPY trade ideas
LONG GBPJPYTechnically
the pair is showing the bullishness.
In the few days past, it has shown the corrective move.
Yesterday, it completed the ABCDE pattern and it broke to the upward by breaking the Highs in the 1H timeframe.
I expect the previous highs to be broken and shoting to the almost highs.
Fundamentally;
GDP DATA
#goodstrade balance non EU 4.950B to 5.0B
#goodstrade balance sep15.06B to16.2B
#GDB mon sep 0.2% to 0.2 (unchanged)
#GDBgrowth rate 0.7% to 1.0%
Educational comment
If the data expected will be as it is, the GBP will remain bullish.
GBPJPY-BULLISH IDEAGBPJPY is in strong bull run as it has bounced from the strong trendline took the support and broke out from falling wedge
GBP/JPY Approaching Key Channel Support: Potential for Downside **GBP/JPY Technical Outlook: Bearish Signs Building as Price Approaches Critical Channel Support and Triangle Pattern Tightens**
The recent movement in GBP/JPY has played out precisely as anticipated, with the price reaching my previous target. As the pair now approaches a critical junction, it’s beginning to display several bearish technical patterns that could hint at an impending trend reversal. At this stage, GBP/JPY is forming a triangular consolidation within an upward channel, testing the strength of the channel's lower boundary. This pattern is particularly important, as a decisive break and close below the channel would signal that selling momentum may be taking over, potentially altering the broader trend.
### Triangle Pattern and Lower Channel Boundary
The triangle pattern currently taking shape suggests that GBP/JPY is undergoing a phase of consolidation, a period in which buyers and sellers are in temporary balance. However, with the price hovering near the lower boundary of the channel, this balance may soon tip in favor of the sellers. A breakdown below this channel would be highly significant, potentially confirming a shift in the prevailing upward trend and opening the door to lower price levels.
### Daily Timeframe: Double Top and Lower Highs
Zooming into the daily timeframe reveals even more compelling evidence of weakening bullish momentum. GBP/JPY has formed a notable double top pattern, a formation known for signaling bearish reversals. The double top suggests that the buying strength encountered substantial resistance near recent highs, leading to a rejection. This pattern often serves as a precursor to a bearish move, as it shows that the upward push is running out of steam.
In addition to the double top, GBP/JPY is also forming a series of lower highs, which reflects an increase in selling pressure. This sequence of lower highs implies that buyers are struggling to maintain the price at elevated levels, allowing sellers to gradually take control. Such patterns often indicate that the market’s sentiment is shifting, with sellers gaining confidence while buyers lose momentum.
### Potential Bearish Continuation and Support Zone Target
If GBP/JPY breaks down from the triangle pattern and exits the channel, the bearish momentum could accelerate significantly. The key support zone around 195.570 stands out as a potential target for this move. This level has historical significance, serving as a support in previous downtrends, and could act as a point of interest for buyers once again. However, if the selling pressure remains strong, GBP/JPY may even extend beyond this zone, leading to a deeper correction.
### Summary
In summary, GBP/JPY is at a critical inflection point, with bearish patterns accumulating across multiple timeframes. The triangle pattern within the channel, coupled with the double top and lower highs on the daily chart, suggests that downside risks are mounting. A confirmed break below the lower channel boundary could trigger a strong bearish continuation, with the initial target around the 195.570 support zone. As the price approaches this crucial support, it will be essential to monitor for signs of renewed buying interest or potential further declines.
GBPJPY OPEN TRADE - HALF CLOSEDExecute the price at the exact price mentioned, NO FOMO.
💡KEEP IN MIND💡
I am not a financial advisor and do not contribute to any of your losses or profits. To be safe, I recommend that you risk only 0.1 - 0.2% for the first week or 10 days, as no one can predict the market.
🚀Follow, I will drop daily 2-5 Intraday Charts🚀
GBPJPY - ABC DONEever the indicator said (this pair is strong bull)
but i do a speculation that the bullish trend already done enough.
abc correction has done
mean : GJ will bearish soon
disclaimer
this is not a signal
be carefull
be safe
be smart
thanks
GBPJPY Ready to sellGBPJPY Sell Pattern, potential ABC pattern.
Good Luck
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GBPJPY long update as planned GJ has finally pushed up and broke BOS.
my stops are now below asai low as it might come and fill that 4hr , so could also add more entrys there .
whats everyone else doing ? up to 199?
GBPJPY remains in an uptrend above 196.63GBPJPY remains in an uptrend above 196.63, with the next resistance levels and potential targets for bullish traders at 197.96 (Thursday's high) and 198.43 (Monday's high). However, if the price falls below the trend-defining level at 196.63, a swift drop to the psychological level of 196 is likely.
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BUY GBP/JPY FOR 100 PIPS Go Long on GBP/JPY AT 197.33
It's good trend line support & Sweep the liquidity
BOB in 1H time frame
BUY on Fib 50 % area
Take only 31 pips Risk And get
reward At list 100 pips
Gj to 200? I think soI think this is a solid wedge for gj broke out and retest perfectly, now up it goes I believe we can see 200 possibly 202
Bearish drop?GBP/JPY is rising towards the pivot which has been identified as an overlap resistance and could drop to the 1st support which acts as a pullback support.
Pivot: 198.26
1st Support: 196.76
1st Resistance: 196.61
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GPP/JPY Possible play's 11-13-24So after adjusting my zones to be current, this is what I'm seeing as of right now for this pair. We will see how this will play out. London Session could be great. Asian could start the direction. It seems it's in consolidation so what to see a break before taking action.
GBPJPY LONG Technical indicators support the move up.
Bullish engulfing candle then break of trend offers a good entry for a 2:1 R/R to the next daily resistance level.
GBPJPYGBPJPY pair, possible market reaction.. We are going for that weekly AOL, and due to Agglomeration 4, thats why we are trading against the trend
GBPJPY Analysis And Next Market Move Pair Name = GBPJPY
Timeframe = D1
Analysis = technical + fundamentals
Trend = Bullish
Details :-
GBPJPY is looking to hit this main support level. In this move we can see gain UpTo 500Pips+. But first we will confirm that it has hitted the main support level and getting bounce from this level.
Bullish Targets :-
202.000
203.000
GBP/JPY possible Play's After reviewing this chart , There is a couple possible outcome. Over all looks very bullish , but I'm a day trader and like to look at both possible out comes. So I can in & out of the trade. I don't hold of day's. I need my money now lol
Don't miss the great SEE Opportunity in GBPJPYGBP/JPY pair on the 4-hour timeframe with a few important technical zones highlighted:
1. **Supply Zone (Red Zone at the top)**: This red box represents a supply zone where previous selling pressure occurred, causing the price to reverse downward. It is likely a resistance area where price may encounter sellers if it revisits.
2. **Demand Zone (Blue Zone at the bottom)**: The blue box at the bottom represents a demand zone where buying interest previously pushed the price higher. This is likely a support level where buyers might step in if the price retraces back to this area.
3. **Expected Price Movement (Black Zig-Zag Line)**: The zig-zag line indicates a potential short-term pullback within the current trend. It suggests that the price may initially move lower before reversing and moving up towards the green target zone.
4. **Entry and Target Levels (Green Zone)**: The green box represents a potential long trade setup. The entry zone appears to be around the lower limit of the green box, which is approximately 196.250, with a target level towards the top of the green zone near 198.850.
5. **Change of Character (CHoCH)**: The label "CHoCH" marks a potential reversal in trend, signaling that the downtrend could be ending, and an upward move might be likely if price reacts favorably in the demand zone.
6. **Break of Structure (BOS)**: The label "BOS" indicates that the price structure has shifted, which often implies a potential change in the trend or a breakout from previous price levels.
### Summary
Based on this setup, the analysis suggests waiting for a pullback to the demand zone around 196.250, where a buy entry could be considered. The price target for this setup appears to be near 198.850, with a stop-loss likely below the demand zone to limit downside risk.
GBPJPY BuyGBPJPY has bounced off discount zone and broke out of a bullish orderblock.
It's now ranging in an area where there is a lot of buying volume. indicating a potential rise to the next orderblock.
In my opinion you could wait for another pullback to retest the previous bullish orderblock then enter or enter now with a stop loss below the bullish orderblock or discount zone.
The most likely level it could reach would be the equilibrium level if it keeps rising.
GBPJPY possible for another dropHey guys,
based on the chart price reach a key level and and a bearish reaction of sellers is visible on 15min timeframe and again if we change the time frame to 1H again we can see another foot print of sellers on candlestick chart.
So based on this scenario we can consider this movement as bearish.
Good luck
GBPJPY Possible Short Position BBMA OA ReEntry Zone Zero Loss4H - Re-Entry
1H - 50 EMA Rejection + Bollinger Band
Rejection
15m - CSAK /Entry in MAHI
Note:
* Cancel trade or cut-loss when candle close Above MAHI (2 Green Color Lines) in 4H
* 1:3 RRR
* TAYOR
A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis
I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
Trade explanation and more downside expectedHi traders, welcome to this trade breakdown. Its situation has played out and I traded with decent gains. I'm still in the position and I expect more downside coming however my TP is in the 50% of the CLS range.
The goal of this post is to show you briefly my unique method of reading the market by understanding CLS.
Let's put it all together 🧩
Follow me I will be posting more educational posts like this one and don't hesitate to ask with any questions in the comment.
📍HTF Level - Weekly breaker / FVG
📍Range created, 2nd candle manipulated to the HTF level and closed inside the range.
📍The third weekly candle retested the 50% of the wick there I entered at 199.148 - the candle closed inside the range which is another confirmation.
📍4th week opened and retested the range with manipulation above the Asia session.
At this moment, I took partial profit and SL is on the break even.
📍 HTF view
What is CLS?
You may never hear about them.
Just find out about them on Google or their website. This company is trading for the biggest investment banks and central banks. They trade over 6.5 trillion daily volume. They are simply market maker.
I hope this educational post helps you at least briefly understand my method.
Dave FX Hunter
