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GBPJPY trade ideas

GBP/JPY Swing Trade – End of 2024 (Best Way to Buy)Analysis: GBP/JPY shows potential for an upward move based on harmonic patterns and Fibonacci levels on the daily chart. The current trend is retracing higher after finding support at 188.088 and testing resistance around **197.302**. Entry Setup: - Wait for a pullback to the 195.333 - 197.302 zone (61.8% and 78.6% Fibonacci retracement levels). - Look for bullish candlestick patterns like pin bars or engulfing candles to confirm entry. Profit Targets: TP1: 202.065 (78.6% Fibonacci resistance). TP2: 203.000 (1.272 Fibonacci extension). TP3: 207.056 (1.618 Fibonacci extension) for medium-term potential. Stop Loss: - Conservative: Below 195.333. - Aggressive: Below 188.088 for stronger protection in case of failed breakout. Conclusion: This strategy leverages pullbacks for entry in strong support zones, with layered profit targets and tight stop losses. Focus on confirming signals before entering to minimize risk and maximize profit potential by the end of 2024.
Long
by the_pamungkas
GBPJPY BUY | Idea Trading AnalysisGBPJPY is moving in an UP trend channel, is trading along the rising support And as the pair will soon retest it I am expecting the price to go up To retest the supply levels above at The chart broke through the dynamic support, which now acts ... We expect a decline in the channel after testing the current level. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great BUY 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
Long
by TheGrove
15
GBP/JPY H1 Analysis – OB Bearish and Bullish Scenarios This chart outlines a potential price reaction for GBP/JPY on the H1 timeframe based on **Order Blocks (OB)** and possible market scenarios: ### Key Zones: 1. **OB Bearish Zone (196.750 - 197.000):** - This is a key **supply zone** where sellers may dominate. If price moves into this area, it could trigger bearish momentum, leading to a reversal. 2. **OB Bullish Zone (195.750 - 196.000):** - This is a **demand zone** where buyers are expected to step in. Price entering this zone could initiate a bullish push back toward higher levels. --- ### Possible Scenarios: 1. **Bullish Rejection from OB Bullish Zone:** - If the price reaches the OB Bullish Zone, we expect a possible **bounce upward** toward the OB Bearish Zone. - **Validation:** Price forms bullish rejection candles (e.g., pin bar or engulfing patterns). - **Target:** The OB Bearish Zone around 196.750-197.000. 2. **Bearish Continuation from OB Bearish Zone:** - If the price hits the OB Bearish Zone after a bullish retracement, we anticipate a **rejection** and downward continuation. - **Validation:** Price forms bearish reversal patterns in the OB Bearish Zone. - **Target:** Break below the OB Bullish Zone, extending to lower support levels. 3. **Direct Breakdown Below OB Bullish Zone:** - If the price fails to hold in the OB Bullish Zone, it could lead to a **bearish breakout** toward deeper support levels. - **Validation:** Price closes strongly below the OB Bullish Zone. - **Target:** Lower levels around 194.500 or further down. --- ### Notes: - Monitor candlestick patterns and volume near the key zones to confirm entries. - Be cautious of **false breakouts**; wait for clear confirmation before entering trades. - Use stop-loss levels just below/above the zones to manage risk effectively.
by foureyescoder
Falling towards overlap support?GBP/JPY is falling towards the support level which is an overlap support that lines up with the 38.2% Fibonacci retracement and could bounce from this level to our take profit. Entry: 194.73 Why we like it: There is an overlap support level which lines up with the 38.2% Fibonacci retracement. Stop loss: 193.14 Why we like it: There is a pullback support level that lines up with the 50% Fibonacci retracement. Take profit: 198.45 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please 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 Company 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 supplied by Everest Fortune Group.
Long
by VantageMarkets
GBPJPY Strong bullish break out inside the Channel Up.GBPJPY is having its strongest (1d) candle today in almost 18 months. The main pattern is a Channel Up and this rise is extending its new bullish wave. The previous one retested the MA50 (1d) after crossing over it and the resumed the uptrend to peak on a +8.70% rise. Trading Plan: 1. Buy on the next MA50 (1d) test. Targets: 1. 204.500 (+8.70% rise). Tips: 1. The MACD (1d) formed a Bullish Cross 9 days ago, the 3rd inside this 5month Channel Up, which confirms that we are on a bullish wave. Please like, follow and comment!!
Long
by TradingBrokersView