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GBPJPY trade ideas

Trading Plan: GBP/JPY Active Trade UpdatePair: GBP/JPY Timeframe: Daily Current Price: 191.240 JPY Active Trade: Entry Point: Long entry around 181.337 JPY, triggered based on strong bullish reversal signals. Stop Loss: 178.109 JPY (below the support zone). Take Profit: TP1: 191.000 JPY (near the current price level) – TP1 has been reached. TP2: 195.768 JPY (previous support turned resistance). Overview: The GBP/JPY pair has been in a bearish trend but found strong support around the 181.337 JPY level, where the trade was entered based on bullish reversal signals. The price has now reached near the first take profit level at 191.000 JPY, and we are watching for further upward momentum to reach the second target. Key Levels: Resistance Levels: 196.687 - 195.768 JPY: This is the next significant resistance zone where the second take profit target is set. 199.645 - 198.897 JPY: A major resistance area that could be tested if the bullish momentum continues. 201.844 - 201.168 JPY: The upper resistance zone that might come into play if the price breaks above the 200.000 JPY level. Support Levels: 181.337 - 178.109 JPY: The entry zone and stop loss area, where the price found strong support. Equilibrium (around 189.000 JPY): A key balance point that could act as support if there is a pullback. Technical Indicators: Bullish Reversal: The price showed strong bullish signals at the 181.337 JPY level, leading to the current long position. The first target has been achieved, and the price is now approaching resistance. Price Action Forecast: The bars shown in black represent a price action forecast, suggesting potential future movement within the current trend. Next Steps: Monitor Price Action: Watch closely as the price approaches the 195.768 JPY resistance level. If the price struggles to break through, consider adjusting the stop loss to secure profits. Adjust Stop Loss: As the price nears the second take profit level, you may consider moving the stop loss to just below the 191.000 JPY level to lock in gains. Exit Strategy: If the price reaches 195.768 JPY, take profit on the remaining position, or watch for signs of continuation for potential further gains. Risk Management: Risk-to-Reward Ratio: Maintain a 2:1 or better risk-to-reward ratio. Position Sizing: Keep the position size consistent with your risk management rules, risking no more than 1-2% of your account on this trade. Conclusion: The GBP/JPY pair has shown strong bullish momentum after finding support at the 181.337 JPY level. With the first target already achieved, traders should now focus on managing the position as the price approaches the next resistance. The daily chart suggests that the forecasted price action, indicated by the black bars, aligns with the ongoing bullish trend. Always adhere to your risk management strategy to protect your capital.
Long
by Mike_SnD
GBPJPY Bullish Reversal OpportunityGBPJPY price is breaking a credible resistance zone. If the price action is able to print a convincing Higher High, it may be a signal towards a proper Bullish breakout and a potential new ALL TIME HIGH may become more likely. After the Bulls surf the potential wave till TP1, a probable opportunity may arise for the Bears in the form of a probable Harmonic reversal from key Fibonacci Harmonic price levels which increases the importance of moving SL to Break Even if TP1 hits. Till then, opportunity may be seized by the Bulls. Trade Plan: Entry @ 197 Stop Loss @ 188.5 TP1 @ 205.5000 TP2 @ 214.0000 No. of Trades: 2 Move SL to Break Even if TP1 hits.
Long
by SalaarBT
2
GBPJPY Bullish Continuation Breakout OpportunityGBPJPY price is breaking a credible resistance zone. If the price action is able to print a convincing Higher High, it may be a signal towards a proper Bullish breakout and a potential new ALL TIME HIGH may become more likely. After the Bulls surf the potential wave till TP1, a probable opportunity may arise for the Bears in the form of a probable Harmonic reversal from key Fibonacci Harmonic price levels which increases the importance of moving SL to Break Even if TP1 hits. Till then, opportunity may be seized by the Bulls. Trade Plan: Entry @ 197 Stop Loss @ 192.3 TP1 @ 201.7 TP2 @ 206.4 No. of Trades: 2 Move SL to Break Even if TP1 hits.
Long
by SalaarBT
GBPJPY - 4hrs ( Buy Trade Target Range 300 : 600 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 ( Long ) Type : Mid Term Swing ——————————— Bullish Break 195.500 Area Reasons - Major Turn level - Visible Range Lvn - Fixed Range hvn - Triangle Pattern - Week / Month High Area Bearish Reversal 202.000 Area Reasons - Major Turn level - Visible range hvn - FIbo Golden Zone - Channel mid Target - Quarters High Area
Long
by GoldenEngine
1
GBPJPY → Trade Analysis | SELL SetupGBPJPY s moving to the upper boundary of the ascending channel. The volatility of the movement has decreased. The price has reached the resistance level. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GBPJPY I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Short
by TheGrove
8
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!
Long
by fortunepivot
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
by 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.
Long
by AnalysisExpert
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) 🟢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