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GBPJPY trade ideas

Trades are like buses... Miss one? Catch the next! GBPJPY longGreetings fellow traders! Bullish Purge and Revert in progress in GBPJPY . The purging 1h candle's high is broken and we have the confirmation . Long till 197.630 . Adding to it, the market is in discount of the dealing range and as I've already pointed out, I'm bullish on JPY pairs. I expect the market to move to higher targets at 197.900 and 198.435 . Still, the lowest hanging fruit at 197.630 is our objective. Enjoy the weekends... Take rest and replenish your mental strength for the next week . Disclaimer- All content is for educational purposes only and not trading advice.
Long
by SatyajeetSahai
GBPJPYHello guys TechPips here this is my personal view on gbpjpy market as been bullish on daily and they are beginning to lose momentum or Liquidity since new high as been created so I am expecting a bearish run on daily in this new week we are entering so in my 1hr timeframe I am expecting the bears to break the trend and redirect the trend then I will look for an entry to swing for few days. NOTE : Risk management is Important in trading so kindly apply it if you are join the ride. All action made by you based on your capital is your responsibility so trade with caution and be smart in taking trades.
Short
by Skul_Fx
GBPJPY LONG SETUP Smart Money Play for GBPJPY With GBPJPY showing signs of support in the current range, the smart play would involve waiting for confirmation of continued strength before entering long, or positioning for a minor pullback in line with the recent shift in momentum. 1. Identify Key Support Zone • Price is currently testing the 100 SMA on the 4-hour chart and is positioned near two previous significant turning points. This level could act as a pivotal support if buyers re-enter the market here, as it has been a strong level in the past. • The presence of the 4-hour Ichimoku cloud just below price suggests that any break lower could see further downside, but above it, we may be primed for a continuation to the upside. 2. Volume and Trend Alignment on the Daily • With the ADL, CMF, and CMO still positive, underlying buying pressure remains intact. The positive daily Ichimoku cloud further confirms a bullish trend, especially since price is above the cloud and the lagging span is supportive above price. • Daily RSI being above 50 also supports a bullish outlook, though the recent fall indicates a need for confirmation that buyers are indeed stepping in at this level. 3. Monitor Lower Timeframes for Pullback Confirmation or Reversal • 4-Hour Chart: Wait for bullish confirmation to resume on the 4-hour MACD or RSI. If the RSI and MACD indicators start to show signs of upward momentum, it could signal that buyers are actively defending this level, supporting a bullish entry. • 2-Hour MACD: The MACD remains dark red, signaling current downside momentum. For a higher-probability entry, wait until MACD shifts lighter or flips entirely, indicating a possible end to the pullback. 4. Confluence with Bollinger Bands and Divergence on Lower Timeframes • The price recently touched the upper band of the daily Bollinger Bands, indicating a high point, and is now testing the 20 SMA. This setup suggests we are at a consolidation or retracement phase. • On the 15-minute chart, RSI divergence (price making higher lows while RSI makes lower lows) could hint at a potential bullish reversal at this support zone, but higher timeframe confirmation is needed. Trade Idea Given these signals, there are two potential smart-money plays: 1. Long Continuation: • Wait for the 4-hour indicators (MACD and RSI) to confirm a bullish reversal. Enter long if RSI begins to rise again and MACD shows green momentum, ideally with a close above the 100 SMA on the 4-hour as confirmation of strength. • Place stop-loss below the 4-hour Ichimoku cloud or recent support levels, aiming for an initial target near 199 or the upper Bollinger Band on the daily. 2. Short Pullback Trade (if price breaks 4-hour support): • If price breaks and closes below the 100 SMA and the lower edge of the 4-hour Ichimoku cloud, consider a short entry targeting the daily 20 SMA or the 197 level as interim support. • Monitor CMF and ADL for signs of waning buying pressure, as well as confirmation from MACD on lower timeframes turning darker again, supporting a continued down move. Summary of Smart Money Play 1. Trend Bias: Overall bullish on the daily, but cautious of the pullback on the 4-hour and lower timeframes. 2. Setup: Wait for pullback completion or a break of support for bearish continuation. 3. Entry Trigger: Use 4-hour MACD and RSI as signals to confirm reversal to the upside or continued weakness. 4. Risk Management: Place stops below significant support zones, targeting recent highs or lower support levels in line with the trend.
Long
by Shivsaransh1
GBP/JPY 144M chart with an analysis of the key levels1. Elliott Wave Analysis and Structure The chart appears to be tracking a complex Elliott Wave pattern with clear labeling of impulse and corrective waves. Wave III and IV are prominent on the chart, indicating that the current movement may be within a broader impulse wave structure, likely aiming towards completing Wave V at higher levels. Wave 1 Invalidation Level at 199.240: This level is crucial as any move below this would invalidate the current wave count, which expects price to rise in Wave V without dipping below Wave 1's territory. 2. Fibonacci Levels and Extensions Key Fibonacci Extensions: 3.618 Extension at 207.390: This is the highest extension marked, suggesting a potential overextended Wave V target. 2.618 Extension at 205.421: This level is marked for a diagonal Wave 5, providing a likely resistance level and a target for a possible reversal. 2.236 Extension at 203.952: Labeled as "Volume Divergence by Wave 5," this level indicates where volume divergence might emerge, signaling weakening momentum and a potential reversal. Retracement Levels: 0.272 (202.172) and 0.382 (201.240): These retracement levels provide support within the corrective structure of Wave IV. They mark areas where price could potentially consolidate before moving higher to complete Wave V. 0.618 (199.240): This level is noted as a critical support level. It also serves as the Wave 1 invalidation point, reinforcing its importance as a support that should hold if the bullish wave count remains valid. 3. Volume Divergence and Inducement Zones Volume Divergence by Wave 5 (at 206.888): Located near a significant Fibonacci extension, this indicates that although price may continue higher, a reduction in volume could hint at a weakening bullish momentum. Inducement Zone (2.618 at 204.375 for Wave 3): This inducement area acts as a potential target for Wave 3, where traders might look for an initial breakout or reaction as it aligns with a higher extension level. Conformation Zone at 2.236 (203.224): Marked as a confirmation area for Wave 1-5, suggesting that this could act as a validation zone for continued bullish movement if price holds above it. 4. Invalidation Levels Wave 2-B Invalidation: An invalidation level is noted around the bottom of the corrective phase, signifying that any drop below this would invalidate the expected bullish move in Wave V. Wave 4 Invalidation: The corrective Wave IV must not extend too low (below the noted retracement levels), or else the structure may shift into a deeper correction rather than maintaining the bullish outlook. 5. Strategic Price Levels Resistance Levels: 206.889: This is noted as the invalidation extension above Wave 5, marking a potential high where price might encounter resistance if this wave structure remains intact. 205.421 (Diagonal Wave 5 Target): As a common extension level, this serves as a natural target for price to complete the wave. Support Levels: 200.500 - 201.240 Range: This range includes retracement levels for Wave IV and is a key support area to maintain the bullish wave count. 199.240: Critical as the must-not-pass level for Wave 1. A breach here would invalidate the wave structure. 6. Channel and Trendline Analysis Ascending Trendline Support: An orange trendline runs diagonally, acting as a support line for the ongoing uptrend. This line aligns with retracement levels, suggesting that if price touches or respects this trendline, it could provide a buying opportunity within the context of the bullish structure. Diagonal Channel in Purple: The price movement within this channel helps in tracking the upward progress of Wave III to Wave V, with each retracement bouncing within the channel limits. 7. Projected Path and Trading Implications Primary Pathway: The chart anticipates that price will reach the 2.618 (204.375) and possibly 3.618 (207.390) extensions for Wave V. A break of these levels with volume divergence would be a signal for potential exhaustion. Wave IV Consolidation: Should Wave IV continue, traders may look to buy on dips near the 0.382 (201.240) or higher as long as the price remains above 199.240. Exit/Profit-Taking Zones: Traders may consider taking profits near 204.375 or 206.888 based on resistance levels, especially if volume divergence becomes apparent. Summary of Key Takeaways Upside Targets: The key upside targets are the 2.236 extension (203.952), 2.618 extension (205.421), and the maximum extension at 207.390. Critical Supports: Supports at 201.240 (0.382 retracement) and 199.240 (Wave 1 invalidation) are key for maintaining the bullish outlook. Volume Divergence: Potential volume divergence near the higher extensions could signal a weakening trend, marking a potential reversal or consolidation phase for GBP/JPY.
Long
by spacedevil
GBP_JPN (110 Pips)Technical Analysis: Triple Resistance Test Failure Pattern Overview A significant bearish signal has emerged with the triple resistance test failure, followed by a key reversal pattern at a high pivot point. This formation suggests increased selling pressure and potential trend reversal. Key Technical Elements 1. Triple Resistance Test - Price made three distinct attempts to break above resistance level - Each attempt showed progressively weaker buying momentum - Final rejection demonstrates strong selling pressure at this level 2. High Pivot Point Formation - Created at the peak of the third resistance test - Represents a critical turning point in market sentiment - Historical significance as a major price level 3. Bearish Engulfing Pattern - Large bearish candle completely engulfing previous bullish candle - Occurred at a crucial technical level (High Pivot Point) - Significant volume accompanied the pattern, validating its importance Technical Implications - The failure of three consecutive attempts to break resistance indicates strong overhead supply - The bearish engulfing pattern at the pivot point suggests a potential trend reversal - Expect increased selling pressure in the near term - Previous resistance level now likely to act as strong resistance for future attempts Risk Management Considerations - Short positions should consider placing stops above the high pivot point - Long positions should exercise caution and potentially reduce exposure - Volume analysis crucial for confirming strength of the reversal Conclusion The combination of a triple resistance failure and bearish engulfing pattern at a high pivot point presents a compelling case for bearish sentiment. Traders should monitor volume and price action closely for confirmation of the reversal signal.
Short
by NYHTSTAR
GBPJPY US Election Rally Buy GBPJPY @ 196.3 - 195.9💷GBPJPY💴 US Election Rally 💎Buy GBPJPY @ 196.3 - 195.9💎 Tuesday 11/05/2024 07 PM 195.1 StopLoss —> 196.35 BreakEven+ Scalp TakeProfit 1: 196.5 TakeProfit 2: 196.7 TakeProfit 3: 196.9 Daily TakeProfit 4: 197.1 TakeProfit 5: 197.3 Swing TakeProfit 10: 198.3 TakeProfit 20: 200.3 TakeProfit 30: 202.3 Position TakeProfit 50: 206.3 TakeProfit 100: 216.3 TakeProfit 200: 236.3 TakeProfit 300: 256.3 Richard Eyo ~ The Wizard 🧙‍♂️
Long
by SmartWizardFX
BUY GBP VS JPY Triangle BreakoutThe GBP vs JPY pair on the M30 Timeframe presents a potential Buying oppurtunity due to a recent breakout from a triangle pattern This suggest a shift in momentum towards the upside and higher likehood of further advances in the coming the hour POSSIBLE LONG TRADE First Resistance 199 Second Resistance 200 Stoploss To manage risk place a stoploss order below support zone This helps limit potential losses if the price falls back unexpectedly Your likes and comments are incedibly motvitation and will encourage me to more analysis with you
Long
by GoldMarketKiller
GBPJPY | MONETARY POLICY |RATE CUTS AHEAD?|CONFUSED PRICE ACTIONGBP JPY LOOKS VERY CONFUSING TO ME but lets see what happens today fomc minutes gbp boe monitary policy There is a good chance that the Bank of England (BoE) could lower interest rates soon, with a cut widely anticipated in its next Monetary Policy Committee (MPC) meeting in November or December. However, the overall outlook on rate cuts remains mixed. Some analysts expect a cut as inflation rates have fallen from their highs, but recent fiscal policies, like the October budget, may temper any aggressive cuts due to potential inflationary effects. The BoE might proceed cautiously to balance inflation control with economic growth, and some experts even believe any cuts could be modest in the near term until inflation stabilizes further. Looking ahead, rates are expected to continue gradually lowering into 2025, but experts caution that the UK’s rates may not return to the extremely low levels seen pre-2020, as broader economic factors remain in play. For the November meeting, however, a rate cut of about 0.25% is currently expected, which could impact mortgage and borrowing rates accordingly. manage your risk be wise my analysis is not the holy grail , always do your research
by MSK-
Head and Shoulders in GBP/JPY: Timing Your Next Move?The GBP/JPY currency pair exhibiting a head and shoulders pattern suggests a potential reversal from bullish to bearish momentum. If you're waiting for the price to confirm this pattern, it's crucial to identify key levels of support and resistance, as well as possible entry and exit points. You can either short now or wait for a potential retest around 194.3; the original target remains unchanged as indicated in my earlier chart. Good luck!
by fortunepivot