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GBPJPY trade ideas

GBPJPY: UPTREND TRADE IDEAGBPJPY (LONG) Timeframe = H4 Trend = Bullish ENTRY: 193.00 > 193.10 Bullish Targets:- TP1: 193.40 TP2: 195.45 TP3: 198.00 TP4: 204.00 Details:- Markets are undecided whether the Bank of England will hold, or cut rates by 25bps on Thursday, raising the potential for GBP volatility which has put the FX options market on high alert. The FX volatility upon which FX options thrive is an unknown, yet key parameter of their premium, so dealers use implied volatility - their best guess. Disparity between implied and realized over the life of the option is a common occurrence and makes FX volatility a tradable asset. Therefore, any implied volatility increase over a key event like the BoE, is also a bellwether for the wider market to see the additional FX volatility that options traders think that event will generate. GBPJPY had good volume and moved well from last 2 days. Exactly on the way as predicted. It will hit a strong resistance level around 193.40 to 195.50. Bearish Target:- 191.0 190.0 Disclaimer: Please be advised that the information presented on TradingView to be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the author cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information provided.
Long
by Intelli_ag
1
Trade Recaps: EURUSD-LONG, GBPJPY-LONG, 23/09/2024EURUSD Bias Analysis: Daily displacement higher out of order block and OTE, with the 4H trending higher presented an optimal alignment entry which aligned with the 1H range for the day. After an impulsive protraction into 1H EPD which was within a 4H OB & 1H FVG, entry confirmation was received and a long position was executed. GBPJPY Bias Analysis: The daily pulled back aggressively into EPD and with a 4H bullish trend prevailing, The market presented a resistance setup which aligned with the 1H range. Also protracting impulsively, price pulled back into confluent 4H & 1H FVG's which were within 1H EPD, meeting trade parameters which led to a long execution once entry confirmation was received. Grade: EURUSD: High Probability GBPJPY: Valid What I did well or could've done better: - Stuck to the plan and executed positions, despite impulsive price action into my entry region. - My take profit order on MetaTrader did not align with how I had frame my position on TradingView. While this led to closing out a larger profit than anticipated (this time), in future, this could lead to TP orders not being filled and walking away with less profit than anticipated.
Long
by The_Modern_Day_Trader
Longs ideal on GBPJPY. Interest rate differentials between these currencies are key when identifying trade setups. Currently, the BOE has a 5% interest rate, while the BOJ has 0.25%. Using our Institutional pairing approach, this indicates a strategy of buying the strongest currency (GBP) against the weakest (JPY). We also consider dollar-based weakness—if the USDX is bearish, we aim to buy the strongest currency against the weakest. This condition is fully present in the current market, meaning we are looking for long positions on GBP/JPY. To support upward price movement, we look for Discount Arrays on higher timeframes (HTF). If I were trading this pair, I’d focus on finding long opportunities from MWD Discount Arrays.
Long
by BullishFX_Consultancy
GBPJPY Technical Outlook - 1-Hour Chart AnalysisKey Analysis and Components: Elliott Wave Structure: The wave count shows an ongoing impulse wave (iii), which peaked near the 190.95 level. Following the peak, a corrective pattern (ABC) has developed. The chart indicates that the current correction may evolve into a larger wave 4 structure, implying that the pair has room to the downside before completing the wave cycle. Wave 5 is expected to follow after the corrective structure finalizes, likely leading to a new upward move unless invalidation occurs at key resistance levels. Sell-Side Wave 4 Projection: The chart marks the start of a potential Sell Side Wave 4 from the W Open line (week's open), further supporting the corrective nature of the current price action. A retracement level of 0.786 Fibonacci (approximately 185.609) has been highlighted as a key support level to watch during this correction. Key Resistance and Invalidation Levels: Key resistance levels are marked at 192.776, which also serves as an invalidation level for the current wave count. If prices move beyond this zone, the present wave count may no longer hold, and a new wave analysis will be necessary. The 1W Close zone around the 192.383 level aligns with the potential end of wave 5, marking an important area for traders to watch. Bullish Order Block: Below the current market structure lies a Bullish Order Block, defined around 184.900-185.500. If prices reach this zone during the correction, a potential reversal to the upside could occur as buyers step in. Volume and Market Profile: The POC (Point of Control), or the highest volume area on the chart, rests near 185.609, coinciding with key Fibonacci levels. This suggests strong support and interest in this area, where a major move could be initiated. Potential Bearish Scenario: The chart outlines a projected bearish scenario if the correction extends further, with possible moves targeting the 189.636 and 185.609 levels. Should prices break below this support zone, it may trigger further selling pressure towards the Bullish Order Block and beyond. The outlined ABC corrective waves support this view, suggesting continued bearish momentum before a potential bottom is formed. Conclusion: The GBPJPY pair is currently in a corrective wave structure following a significant bullish run. The wave count suggests the pair is within Wave 4, which could see prices decline toward the 185.609 support level. Traders should watch for signs of reversal near this zone, as the pair may enter Wave 5 afterward. Invalidation of this analysis occurs if prices break above the 192.776 level. Monitoring volume and key support levels will be crucial in the coming sessions.
Short
by spacedevil
1
BEARISH SENTIMENT ON GBPJPY So I personally don’t use to trade GJ but lately I’ve understood so well that i am more of a trending market structure trader as my strategy implies me to. So i went in deep search of trending market pairs of which i just found out very well that GJ is a good bearish trending pair if analyzed properly from the monthly timeframe which happens to be my highest timeframe and I prefer watching the major market structure from monthly down to 4hr before knowing how to approach an asset. Now looking at GJ on monthly timeframe i spotted a very nice bearish structure which to me has already started selling off a nice Supply zone on the monthly. I did a breakdown to this daily timeframe and found out that on the daily there is also this bearish market structure shift as my analysis here shows. So whenever price reaches the supply zone labeled above i will be looking for lower timeframe shift also to bearish structure and getting in on the sell to break lower as much as possible. My confluences for the bearish structure are backed by 1) market structure(ChoCh), 2) Supply, 3) Imbalances, 4) Liquidity(Entry & Exit). Will patiently wait for lower timeframe bearish ChoCh as my confirmation entry to join the sells if it respects that Supply zone. First TP target will be at 180.000 price level and below. Note: the market is all about probabilities which also makes my analysis a probability.
Short
by MeekBosslife
GBP/JPY Potential Short Potential short in the making, recently we got a push back up from the daily low and now we're at the high. I marked these daily levels as zones based off wick and candle close averages. The 2 zones marked off are the most relevant since we can clearing see structure formed. All we need now is to see that transition in trend from up to down on the 4hr or 1hr , favorably the 4hr chart. Wait for the higher low to be broken from the upside trend and execute position on the first lower high to the downside. Heikin-ashi candles can help if things are getting choppy. Stops above daily resistance zone and target the daily support zone. Educational purposes only. Cheers! -Michael M.
Short
by Mr_Mayy_
GBP/JPY Trade Setup (1H Timeframe)Watching the GBP/JPY pair closely for a potential short setup. Price is approaching a critical area near the ascending trendline, and I'm anticipating a potential breakdown from this level. Plan: Wait for a break and retest of the trendline around 190.546 for confirmation before entering short. Entry: 190.546 (on the retest after a confirmed break) Stop Loss: 192.446 (above recent highs, -189 pips) Take Profit 1: 189.008 (+153 pips) Take Profit 2: 186.976 (+357 pips) Take Profit 3: 183.771 (+678 pips) I will wait for confirmation and enter on the retest. If TP1 is hit, the stop loss will be moved to break even to secure profits.
Short
by PipShiesty