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British Pound / Japanese Yen

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GBPJPY trade ideas

GBPound DownHello Everyone . My idea on GJ is based on price action & is taken with a top-down approach. HTF : we can see a bearish impulse leg with what now seems to be a possible continuation flag. LTF : within the HTF structure we can now see an ascending pattern ,giving me a more solid bias as we get near the Point Of Interest Zone of the previous high. Trade : i will look for bearish price action on my trade time frames {15m/30m} to form and take this trade according to my trading plan . Should the chart not fit my plan i will not take this trade setup but wait rather for chart development
Short
by Hivemind_FX_
7
GBPJPY BUY Trade Activated Sept 26 A simple trade using the knowledge of market structure and checking the story from higher TF to lower TF. As you can see, it is moving in the upward direction. I was waiting for buy trade using my old time buddy lists :) ---> POI ---> IMB, OB, Supply and Demand with validity or proof using BOS --> CHOCH or liquidity grab in the direction of the trend. This trade was activated by a buy limit order at around N.Y session. Aiming for 4:1 RR :) #smartmoney #patience #characterandiscipline
Long
by glyrad
GBPJPY Best long-term buy signal you can get.The GBPJPY pair closed last week above the 1W MA50 (blue trend-line) and this week opened above the 1D MA50 (red trend-line). The long-term pattern has been a Channel Up since the September 2022 market bottom and since the July-August Bearish Leg, the pair has been pricing its new bottom (Higher Low). The break-out above the 1D MA50, while at the same time the 1W RSI breaks above its MA, has been the ultimate long-term buy confirmation during the last bottom formation in February 2023. Since the Bullish Leg that followed rose by +20.15% and a little below the 2.0 Fibonacci extension, we expect a similar rally, thus settling for a 220.000 Target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Analysis of GBP/JPY on 1H Time FrameOverview This chart represents the GBP/JPY pair on a 1-hour (1H) time frame with a complex overlay of technical analysis frameworks, most notably a combination of Wyckoff Distribution and Elliott Wave Theory. The chart is densely marked with key points that suggest the presence of a distribution phase, with an expected price decline over the next two weeks based on the patterns identified. Key Terminology & Concepts Wyckoff Distribution: A phase where a market transitions from an uptrend to a downtrend. The market undergoes multiple stages: Preliminary Supply (PSY), Automatic Rally (AR), Secondary Test (ST), Upthrust (UT), and Sign of Weakness (SOW). Elliott Wave: A technical analysis theory that interprets market movements in a series of 5-wave impulsive patterns and 3-wave corrective patterns. SOW (Sign of Weakness): A point in the Wyckoff Distribution where downward pressure becomes more pronounced, signaling a potential bearish continuation. Upthrust (UT): A momentary breach of resistance, typically a false breakout, signaling the final stages of distribution. Phase B: Part of the Wyckoff method where the asset shows sideways movement before entering a significant downtrend. Analysis Breakdown Wyckoff Phases Preliminary Supply (PSY): The chart has identified PSY early on, where initial signs of selling pressure emerge in an upward trend. Automatic Rally (AR): Following PSY, the price rallies as buying pressure absorbs the selling, but it lacks strong momentum, hinting at distribution rather than accumulation. Secondary Test (ST): ST represents a testing phase where the price re-visits key support levels, confirming that the market is not ready for a breakout to new highs. Upthrust (UT): Marked towards the final leg of the uptrend, UT is a false breakout where the price temporarily breaches resistance, reaching a high around 193.57, signaling exhaustion of buyers. Sign of Weakness in Phase B (SOW): In Phase B, after the upthrust, the price shows signs of losing strength and begins to drift lower, suggesting the onset of distribution. The chart has marked this as "SOW in Phase B" indicating growing bearish momentum. Elliott Wave Application Wave Structure: The chart integrates Elliott Wave analysis alongside Wyckoff’s phases. Wave (iii) marks the end of a strong upward impulse wave. Wave iv indicates a corrective move, possibly forming the penultimate stage before a final bearish decline. Wave v is expected to complete around the Upthrust (UT) region, marking the last wave in the upward cycle before the major downtrend begins. Price Zones & Resistance/Support Resistance Line - BC Distribution: At 193.574, this acts as a strong resistance level that has been tested during the upthrust. The chart expects this level to hold and not break further. Support Line - AR Distribution: Around 192.168, this support line from the Automatic Rally (AR) is expected to be tested and possibly broken as distribution proceeds. Future Price Expectations Downside Expectation (Next 2 Weeks): The Wyckoff Distribution suggests that after the Upthrust (UT), the price is likely to enter a significant downtrend. The chart projects a move into Wave i and Wave ii, part of a larger bearish Elliott wave structure. The key target zone is below 192.000, where further price weakness is expected. Weekly Close Expectation: Based on the projections, the chart anticipates a bearish close around 30th September 2024, signifying a continuation of the selling pressure. 1W Close (weekly close) is marked near 190.000, indicating a significant decline in the pair over the next week. Potential Bearish Continuation: The longer-term outlook reflects the completion of a distribution phase, followed by continued downward pressure, possibly testing lower levels around 189.000 in Phase A of the distribution process. Conclusion The technical analysis on the GBP/JPY pair suggests the pair is currently completing a distribution phase under the Wyckoff Method, with key bearish signals forming. After reaching a high near 193.57, the price has shown an Upthrust (UT), signaling exhaustion and a likely reversal. Coupled with Elliott Wave Theory, the pair is projected to enter a corrective Wave v, followed by a larger downtrend that could test levels below 192.000 over the next two weeks. The 1W close is expected to confirm this bearish sentiment with a significant decline by 30th September 2024. As such, traders should prepare for a potential short-selling opportunity, with key levels of support to monitor around 190.000 and 189.000.
Short
by spacedevil
2
GBP/JPY Short Setup: Bearish Opportunity on RetestWe’ve seen a strong upward move in GBP/JPY, but the price is now breaking below the ascending trendline, signalling potential bearish momentum. Entry Strategy: I’m looking to enter on a retest of the broken trendline near the 192.58 zone, once confirmation of rejection occurs. Trade Levels: Stop Loss (SL): 194.000 Take Profit (TP1): 190.131 Take Profit (TP2): 188.685 Take Profit (TP3): 186.672 Take Profit (TP4): 183.762 Risk management is key. Be patient and wait for the retracement entry and confirmation before entering the trade.
Short
by PipShiesty
Short Term Elliott Wave Impulse in GBPJPY Favors HigherCycle from 8.5.2024 low in GBPJPY is in progress as a double three Elliott Wave structure. Up from 8.5.2024 low, wave (W) ended at 193.48 and pullback in wave (X) ended at 183.67. Internal subdivision of wave (X) unfolded as a zigzag. Down from wave (W), wave A ended at 187.23 and wave B ended at 189.58. Wave C lower ended at 183.67 which completed wave (X). Pair has turned higher in wave (Y) with internal subdivision as a zigzag structure. Wave A of (Y) is in progress as a 5 waves impulse Elliott Wave structure. Up from wave (X), wave ((i)) ended at 186.63 and pullback in wave ((ii)) ended at 183.75. Pair has resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 187.45 and wave (ii) ended at 185.81. Wave (iii) higher ended at 190.39 and wave (iv) ended at 188.66. Final wave (v) higher ended at 192.3 which completed wave ((iii)). Pullback in wave ((iv)) ended at 190.12. Expect pair to end wave ((v)) of A soon, then it should pullback in wave B to correct cycle from 9.11.2024 low in 3, 7, 11 swing before pair resumes higher again. Near term, as far as pivot at 183.67 low stays intact, expect dips to find buyers in 3, 7, 11 swing for further upside.
by Elliottwave-Forecast
GBPJPY Trendline Breakout , All eyes on sellingHello 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
GBP/JPY bearish reversal likely after distribution (H1)1. Wyckoff Methodology: Distribution Phase PSY (Preliminary Supply): The chart starts with a bullish trend around 188.000, indicating strong buying demand. However, the PSY suggests that large traders are starting to take profits. BC (Buying Climax): The BC is a significant high around 192.303. This price level represents the peak of buying pressure, where sellers are expected to step in. AR (Automatic Reaction): Following the climax, the price retraces, forming an AR, marking the start of distribution as supply begins to overwhelm demand. ST (Secondary Test): Around 191.600, the price retests the high, failing to break it, confirming the ST in the distribution phase. UT (Upthrust): Around 193.000, the price makes another attempt to break higher but fails, leading to another retracement. UTAD (Upthrust After Distribution): This occurs at the peak, a fake-out above the prior highs, signaling the final effort by the composite operator to distribute positions before a price reversal. Current Location: The chart shows that the pair is in the Phase B of distribution, with the UTAD being completed. This signifies that the large distribution has ended, and a potential downtrend is imminent as we approach Phase C. 2. Elliott Wave Analysis The wave structure follows the classical 5-wave pattern within the corrective phases. Wave 1: The chart starts with an upward impulse, pushing into the Buying Climax around 192.300. Wave 2: After the BC, a corrective wave retraces to around 190.000 (an automatic reaction from Wyckoff). Wave 3: The next upward movement to 193.000 represents a strong impulsive wave, which typically is the longest and most aggressive. Wave 4: This corrective wave retraces to around 190.500, but holds support just above the 0.618 Fib retracement. Wave 5: The final push-up shows the climax and completes around 192.800, forming the UTAD from Wyckoff. Current Elliott Wave Stage: The chart is likely entering an ABC correction, starting from the UTAD, indicating a large retracement to follow. 3. Harmonic Patterns and Fibonacci Levels Fibonacci Retracement Zones: 0.786 at 192.131 serves as a major resistance level, aligning with the Wyckoff AR distribution resistance. 0.618 at 191.194 is a key support level, below which prices could fall deeper into a corrective wave. 0.5 (190.537): An important halfway retracement support zone, which coincides with the weekly close levels, and is likely where the price will stall temporarily. ABC Correction Forecast: Wave A is expected to drop to around the 0.618 Fib level (191.194). Wave B will likely bounce from this support, aiming to test the 0.786 retracement at 192.131. Wave C would then follow, breaking down to a deeper support level around the 0.5 retracement at 190.537. 4. SMC and ICT Concepts (Liquidity and Smart Money Involvement) Liquidity Zones: The Wyckoff phases and Fibonacci levels clearly indicate liquidity being built up around these zones. The UTAD marks a liquidity grab, where smart money is attempting to trick retail traders into believing a breakout will occur. The major support level at 190.537 is a likely target where large orders will accumulate again, leading to future reversals. ICT Mitigation Zones: The chart shows potential mitigation zones where institutional orders were likely placed between 192.131 and 191.194. Price will likely react heavily to these areas due to prior order imbalances. 5. Forecast and Future Outlook Bearish Reversal Expected: The completion of the UTAD phase in Wyckoff combined with the completion of Wave 5 in Elliott suggests a bearish reversal is highly likely. Price will target lower Fibonacci retracement zones, potentially testing 190.537 and even deeper if the downtrend extends. Invalidation Points: Any bullish break above 193.532 would invalidate the current bearish outlook and indicate further upside momentum. Conversely, a break below 187.422 confirms a larger downtrend is in motion. Risk/Reward Evaluation Stop Placement: The stop is set at 193.532 (just above the Wyckoff UTAD), with a risk/reward ratio of 20.71, indicating a highly favorable reward for this trade setup. Targets: Target 1: 191.194 (Fib 0.618). Target 2: 190.537 (Fib 0.5). Target 3: 187.422 for deeper corrections aligning with Wave C. Conclusion The chart represents a highly complex setup incorporating Wyckoff distribution, Elliott Wave theory, Fibonacci retracements, and SMC/ICT concepts. Based on this, the market is expected to enter a bearish corrective phase, targeting key Fibonacci levels and liquidity zones around 191.194 and 190.537, before potentially resuming upward movement.
Short
by spacedevil
3