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British Pound / Japanese Yen

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GBPJPY trade ideas

Market is Holding above the Support , All Eyes on BuyingHello 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
1
GBP/JPY plan for the upcoming week Weekly Overview Market Structure & Key Levels: The chart displays a potential Bullish Order Block formation with a strong focus on the 196.70 - 197.00 level. This level acts as a primary area of interest due to significant market reactions and serves as the Point of Control (POC) for the upcoming week. A Break of Structure (BOS) has occurred, indicating a potential shift from a bearish to a bullish trend. This BOS acts as confirmation of a reversal if we see sustained buying pressure above these levels. Harmonic Patterns: The harmonic pattern highlighted around the previous highs signals a potential exhaustion point. This pattern confirms that sellers may encounter resistance if price reaches levels above 199.00. Weekly Wave Analysis: The Elliott Wave count suggests a completion of Wave 3 with the potential for a Wave 4 retracement towards the 197.00 - 197.50 range. If this retracement holds, we may see a bullish continuation to complete Wave 5. Projected Price Movements: Monday (M): A probable continuation of the retracement from previous highs, aiming for a correction towards the support zone around 197.00. Tuesday (T): Expecting consolidation and a potential test of the 0.236 Fibonacci level around 196.70. Any price action below this level may invalidate the bullish scenario. Wednesday (W): Possible bounce and start of an upward move if the correction holds, targeting 198.00. Thursday (T): Bullish momentum could push GBP/JPY towards 198.60 - 199.00 if previous days’ levels hold. This level marks a critical resistance. Friday (F): Anticipated end of the upward move and potential profit-taking. Resistance around 199.40 could act as the week’s high if buyers lose strength. Risk Management: A good stop-loss strategy would involve setting stops below 196.70 for buy positions on lower timeframes. Monitoring volume profiles and price rejections around these key levels will be crucial for managing entries and exits effectively. Summary The week’s outlook for GBP/JPY involves a probable retracement early in the week, followed by a bullish wave continuation toward 198.60 - 199.40 by week’s end, provided key support levels hold. Keep an eye on major economic events and fundamentals that could impact JPY strength, as they could influence GBP/JPY movements in the anticipated ranges.
Long
by spacedevil
1
GBP/JPY Short-Term Scalping Analysis:The current price action shows GBP/JPY forming a descending trend, and it recently tested the 100% Fibonacci level near 198.056, suggesting a potential bounce area. However, the price remains under bearish pressure and could continue down to retest this level around 198.008-198.050. If GBP/JPY holds this support, we may see a rebound toward the 198.502 or even 198.885 levels, aligning with the 50% Fibonacci retracement as an upper resistance. For scalping: Buy opportunity near 198.008-198.050, targeting a rebound toward 198.250-198.500, with a tight stop below 198.000. Sell opportunity if the price rejects around 198.500 or higher levels, aiming for a retest of the 198.056 support. As this is a short-term setup, it is crucial to monitor price action closely throughout the day. Adjust stops and targets based on volatility and market reactions around these key levels.
Long
by AEL_Education
GBP/JPY Poised for Bullish Breakout Amid Yen WeaknessGBP/JPY Poised for Bullish Breakout Amid Yen Weakness The GBP/JPY pair appears to be accumulating volume within a large triangle pattern, indicating a potential breakout in either direction. My focus is on a bullish move. The Japanese Yen is showing signs of weakness due to diminishing hopes for further rate hikes from the Bank of Japan (BoJ). A price move above the triangle pattern is likely to push GBP/JPY to new highs. The first target is approximately 150 pips, the second target around 250 pips, and the third target nearly 370 pips. You may find more details in the chart! Thank you and Good Luck!
Long
by KlejdiCuni
5
GBPJPY Will Move Higher! Buy! Take a look at our analysis for GBPJPY. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 199.119. The above observations make me that the market will inevitably achieve 199.813 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1