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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY fromed Symmetrical Triangle Enter on Breakout 🔻 Bias: Bearish Lower highs and tightening range indicate weakening bullish momentum. A confirmed break below the 196.345 support could trigger a bearish move. Downside targets: TP1: 195.60 TP2: 195.23 🔍 Invalidation: Bullish breakout above 197.59 would negate this setup and suggest trend continuation. Strategy: Wait for a clean breakout and retest for confirmation. Use tight SL above the triangle if entering short.
Short
by SILICIDE
GBPJPY Major Resistance Breakout Ahead📈 GBP/JPY Technical Analysis – 4H Time Frame 🔍 GBPJPY has maintained its ascending structure and recently broke above the previous supply zone at 196.900, signaling bullish strength. 🎯 Entry Idea: Watch for a retracement to the 196.900 zone — now turned potential demand — for a possible long entry. 📌 Technical Targets: 1st Target: 198.600 (key resistance) 2nd Target: 200.000 (psychological resistance level) The breakout confirms bullish momentum — a clean retest could offer a solid risk-to-reward setup. 💬 Like, follow, and drop your thoughts in the comments! 📢 Join us for more real-time updates and smart trade setups. — With love, Livia 😜✨
Long
by LIVIATRACK
GJ Potentially BearishHi there, We take another look at GJ. I see an ascending channel pattern with GBP/JPY trading within parallel trendlines. The pair respected both the upper and lower boundaries of this bullish channel, with the current price action showing consolidation near the upper resistance around 198.20 levels. 🎙️ **Key Support and Resistance Levels** We have critical levels at the time of this writing as following: - **Immediate Support**: 197.30 (61.8% Fibonacci retracement level) and 196.434 (38.2% Fibonacci retracement) - **Major Support**: 194.0 37 representing the main channel support - **Resistance**: 198.80 acting as the primary obstacle. - **Extended Target**: 199.55 as the next potential bullish objective **Wave Structure Analysis** We have ABC wave pattern, with the pair seeming to have completed a Wave (C) bullish rally and now forming a temporary retracement. The current consolidation suggests the pair is "catching its breath" before a breakout. ## 🎲 Some Fundamental Highlights Appealing to Bullish Bias: **1. Bank of England's Cautious Easing Stance** BoE Governor Bailey has signaled a "gradual and careful" approach to monetary policy, pointing to sticky inflation concerns while acknowledging a softening labor market with over 100,000 fewer payrolled workers in May. This measured approach is keeping the British Pound supported near year-to-date highs. **2. Bank of Japan's Divided Policy Response** The BoJ remains cautious despite rising inflationary pressures, with Governor Ueda maintaining a data-dependent approach. While hawkish board member Naoki Tamura suggests "decisive" rate hikes may be needed, the central bank's measured pace at just 0.5% rates keeps the Yen defensive against stronger currencies. **3. Inflation Dynamics Favoring GBP** Japan's Consumer Price Index has surged due to higher food and energy costs, yet the BoJ's hesitant response contrasts with the BoE's more proactive stance on inflation management. This divergence in central bank responses to inflation is supporting GBP strength against the Yen. **4. Upcoming Japanese Economic Data Releases** Key Japanese economic indicators are scheduled for release, including June Tokyo CPI, May Unemployment Rate, and Retail Trade data. These releases could provide clarity on the BoJ's future policy direction and potentially impact the Yen's performance against the Pound. Happy Trading, K. Not trading advice.
Short
by Khiwe
#GBPJPY: UPDATED VIEW 24/10/2024 **GBPJPY UPDATED VIEW BASED ON PREVIOUS ANALYSIS** Dear Traders, I hope you are doing well. Based on our previous analysis of GBPJPY, we identified two potential selling opportunities within the market. However, the bullish sentiment in the DXY currency pair has had a significant impact on JPY, causing it to fall short of its full value within the daily timeframe. As of today, we have observed a potential exhaustion of DXY’s bullish momentum, with four-hour candles indicating a strong bearish pressure. This development presents an opportunity for JPY to rebound, potentially allowing us to secure substantial profits within the market. Now, let’s focus on the GBPJPY currency pair. The price has extended its bullish trend, although there is a possibility of a reversal from its current position. We recommend implementing appropriate stop-loss orders for any sell entries taken from the current market price. If the initial entry fails, we are confident that the price is likely to reverse from our second entry. Before making any decisions based on this analysis, it is essential to conduct your own research. This analysis is solely for educational purposes and should not be considered financial advice. We appreciate your feedback and support. If you find our work valuable, please consider liking and commenting on our ideas. Additionally, following us will provide us with encouragement and motivation. Best regards, Team SetupsFX_
Short
by Setupsfx_
20
GBPJPY Keeps Recovering, But It’s Approaching ResistanceGBP/JPY is on the rise but is approaching the upper boundary of the 2024–2025 range, which could present strong resistance around the 200 level. Keep in mind that the decline from the 2024 highs to the July lows near 180 was impulsive, while the current rebound appears slow and corrective—possibly a wave B within a flat correction or even part of a triangle formation. In either case, we believe some further sideways price action is likely, followed by a potential downward turn from this prior subwave A resistance zone.
by ew-forecast
GBP/JPY Faces Key Resistance LevelOver the last four trading sessions, the GBP/JPY pair has appreciated by nearly 1%, favoring the British pound against the yen. This move has been driven mainly by the strength of the British currency, which for now has allowed a consistent bullish bias to take hold in the short term. At the moment, the pound has remained strong in part due to the neutral policy stance taken by the Bank of England, which maintained its rate at 5% in the latest decision, reflecting continued high inflation in the UK. In contrast, Japan's situation appears different: in its most recent meeting, the Bank of Japan kept interest rates close to 0% after observing signs of inflation slowing, maintaining its ultra-loose monetary policy, unlike other central banks. The contrast between low rates in Japan and higher rates in the UK has created a divergence in central bank policy, making pound-denominated assets more attractive—a dynamic that has continued to weigh on the yen’s recovery in the short term. Additionally, it’s important to consider that the yen is viewed as a key safe-haven currency. However, this week, following the ceasefire in the Middle East conflict, market confidence has rebounded, reducing constant demand for safe-haven assets like the yen in recent sessions. If these factors persist, they could support a stronger buying pressure on GBP/JPY in the coming days. Broad Lateral Range Although there has been an attempt to establish a short-term uptrend, the broader view on the chart still shows a clear sideways range, and for now, the price must once again face the upper resistance zone of that range to confirm a potential breakout that would establish a stronger bullish bias. Until then, the lateral range remains the dominant structure, particularly while resistance holds firm at the upper boundary around 198.245—a level where some corrective pullbacks may begin to build. RSI The RSI indicator has started to show lower highs, while the price continues to print higher highs. This confirms the presence of a bearish divergence, which could open the door for possible downward corrections to emerge on the chart. MACD The MACD histogram is hovering close to the neutral zero line, indicating that the average strength of the moving averages is still in a zone of indecision, with no clear dominant momentum. If this situation continues, the current bullish bias may struggle to advance further. Key Levels to Watch: 198.245 – Major resistance: This level marks the most important resistance on the chart, sitting at the top of the broader lateral range. Sustained bullish momentum above this level could trigger an aggressive buying bias, potentially extending the short-term uptrend. 196.406 – Nearby barrier: A short-term neutral zone, this level may act as a barrier to downward corrections if selling pressure increases. 193.592 – Critical support: This level aligns with the 50- and 200-period moving averages. If selling pressure brings the price back to this zone, it could negate the current bullish trend and give way to a broader sideways channel on the chart. Written by Julian Pineda, CFA – Market Analyst
by FOREXcom
#GBPJPY: 600+ Pips Swing Move, JPY To Drop! GBPJPY has successfully rejected the area previously identified in our analysis of GJ. We had anticipated a price rejection and reversal with a strong bullish impulse, which has materialised. Following the positive candle close on Friday, we anticipate a continuation of the bullish trend and potential reaching of the 200 mark. When trading, it is crucial to prioritise risk management. Conduct your own analysis and utilise this information solely for educational purposes. Three potential targets have been identified: 198, 200, and 202. A stop loss can be positioned below our buying zone, as indicated by the black-marked zone. Your support, expressed through likes, comments, and shares, is greatly appreciated and encourages us to continue providing valuable content. ❤️🚀 Team Setupsfx_
Long
by Setupsfx_
34
GBP/JPY Revisits 198.08All the way back in 2008, around the Financial Collapse, GBP/JPY posted a massive gap on the monthly chart and here we are, more than 16 years later, and that space on the chart continues to loom large. The August 2008 close at 198.08 led into the September open at 193.61, and over the past couple of weeks those prices have played a big role in GBP/JPY price action, much as they have since last March when that zone finally came back into play when the gap was finally filled in April of last year. Last week GBP/JPY had set up an ascending triangle formation, with resistance around the 196.50 area and a progression of higher-lows since April and through May and early-June. Bulls defended 193.61 on a pullback last week, and came back with a vengeance to drive a breakout into this week with that 198.08 level coming back into the picture to set the current highs. If looking for Yen-weakness, I remain of the mind that this could be a more attractive venue than USD/JPY, further illustrated by the sizable pullback showing in the major pair today compared to the move in GBP/JPY. - js
by FOREXcom
GBPJPY is in the Down Trend From Resistance LevelHello 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
Short
by ForexMasters2000
GBPJPY SHORT (swing)This is a trade setup based on a **Bearish Butterfly Harmonic Pattern**. The pattern meets all the key Fibonacci criteria for validity. Specifically, the AB leg retraces 80.8% of XA, which is close to the ideal 78.6% level and is considered acceptable, especially since it closed with a wick. The BC leg retraces 37.5% of AB, which is within the standard range of 38.2% to 88.6%. The CD leg extends 127% of XA, which is the minimum required for a valid Butterfly pattern, and also extends 252% of BC, which falls within the acceptable range of 161.8% to 261.8%. What makes this setup stronger is that the Potential Reversal Zone (PRZ) at point D coincides with a **major resistance level**, adding significant technical confluence to the area. This increases the probability of a market reaction or reversal from that zone. However, no entry will be taken immediately upon price reaching the PRZ. A trade will only be initiated **after the appearance of a confirmed reversal candlestick pattern** at or near the D point, such as a bearish engulfing. This ensures that we enter with confirmation and not just based on pattern completion.
Short
by SIGNALS_VAULTFX
GBPJPY Eyes 200 BoJ Dovishness & Bullish UK SentimentGBPJPY pair has staged a decisive breakout from a multi-day consolidation zone, with technical momentum and macro fundamentals aligning in favor of further upside. Price action has respected a bullish continuation structure — a falling wedge followed by horizontal accumulation — and is now pressing toward the psychological 200.00 level. With the Bank of England holding firm on policy and the Bank of Japan maintaining its ultra-loose stance, GBPJPY presents one of the strongest carry trade setups in the market. Here's a breakdown of what’s driving this move and what to watch next: 📈 Current Bias: Bullish The pair has confirmed a bullish breakout above the 198.80–198.95 resistance zone, targeting higher fib extensions at 199.40 and 200.00. Momentum is clearly on the bulls’ side as GBPJPY follows through on a textbook pattern breakout. 🔍 Key Fundamentals: Bank of Japan’s Dovish Stance: The BoJ continues to resist any significant tightening, reaffirming yield curve control and negative real yields. This keeps the yen fundamentally weak, especially against higher-yielding currencies. Bank of England’s Hawkish Hold: Despite global easing signals, the BoE remains cautious and data-dependent, with inflation still sticky in the UK. This underpins GBP strength relative to the yen. Global Risk Appetite: Strong equity markets, especially the US500 rally, reduce demand for the safe-haven JPY and increase appetite for high-yielding cross pairs like GBPJPY. ⚠️ Risks to the Trend: Safe-Haven Shocks: Any sudden geopolitical tension (e.g., Middle East, US-China trade rhetoric) may trigger JPY demand and reverse the bullish flow. Unexpected BoE Dovish Pivot: A surprise in UK inflation or dovish commentary from the BoE could weaken GBP momentum. JPY Intervention Risks: With the yen near historically weak levels, any threat or action from Japan’s Ministry of Finance or verbal intervention by BoJ officials could spark sudden volatility. 📅 Key News/Events Ahead: Japan’s Tankan Survey (June 30): May influence BoJ tone. UK Final Manufacturing PMI (July 3): A key gauge for growth momentum. BoE Governor Bailey Speech (July 5): Any hints on policy trajectory will be market-moving. US NFP & Global Risk Sentiment: Impacts broader carry trade appetite. ⚖️ Leader or Lagger? GBPJPY is a leader — it often acts as the flagship pair for carry trade demand. Moves in GBPJPY frequently guide sentiment across other JPY pairs like CADJPY, AUDJPY, and NZDJPY, especially when driven by macro divergences. Its high beta to risk sentiment also makes it a prime barometer for global financial mood. 🎯 Conclusion: GBPJPY has momentum, macro divergence, and a clean technical setup on its side. The breakout above consolidation favors a continued rally toward 199.40 and possibly 200.00. While geopolitical or policy shocks remain risks, the current backdrop supports staying bullish while above the 197.65 invalidation level.
Long
by ultreosforex
1