GBPJPY Clear Double Bottom formation the Pair formed confirmed double bottom formation after penetration the neckline and retaste it with hammer candle stick and moving forward towards the target of the formation at 207 price range
JPYGBP trade ideas
LONG GBPJPY TradeGJ on on a Pro Impulse on the Daily. Making the 4H immediate bias bullish. On the 1H GJ couldn't break the i-CHoCH instead wicked it. Therefore GJ is still on a Bullish momentum targeting the 195.613 price.
GBPJPY BUY TRADE Oct 8 2024This trade comes to fruition after checking for manipulation of lows using 4H-1H-30min-15min.
Allowing me to activate the said pending order -Buy limit during London session (metatrader 4 platform) . I marked that demand because using the order flow, I can see enough evidence to go long. Risking 0.5% of the capital. Every trade that I initiate comes from the basic idea of supply and demand.
(please check the attached charts for a detailed structure of entry and exit points)
Always be patient and look for proof before you put pending order.
GBPJPY View!!"I don't think there is a major skew to FX or bond positioning going into NFP. Both USD bulls and USD bears continue to dabble tentatively, and then get rinsed. Over and over," said Donnelly, president at Spectra Markets and a veteran FX trader.
"With big picture carry momentum halted by the MXN move, and yields already softening substantially this week, the downside in CADJPY and USDJPY on a weak release are most interesting. CADJPY looks 200 points too high to me," he added.
Double bottom GBPJPYDouble bottom breaks out on GBPJPY. Potential trend reversal to bullish trend with price staying above moving averages.
WHATS FLOWING: WTI | GOLD |CADJPYIn today’s episode of What’s Flowing, we are looking at key market movers across commodities and currency pairs: WTI (Crude Oil), Gold (XAUUSD), and CADJPY.
WTI (Crude Oil)
Market Dynamics: WTI is experiencing bullish pressure, driven by tightening global supply and geopolitical tensions. Recent reports indicate that OPEC+ is committed to maintaining production cuts, while unexpected disruptions in the Middle East are pushing oil prices higher.
With the global economy teetering between recovery and stagnation, oil remains a critical gauge of risk sentiment.
Trade Insight:
For traders, WTI could be a strong buy if support levels hold above $85 per barrel. Keep an eye on upcoming inventory reports and any OPEC+ policy changes, which could push prices further.
Gold (XAUUSD)
Current Sentiment:
Gold has been holding steady amidst inflation concerns and mixed signals from central banks. While traditionally a safe-haven asset, recent fluctuations in the dollar and bond yields have kept the metal in check.
Trade Strategy:
Gold is currently range-bound between key support and resistance levels. For traders, a breakout above $1950 could signal a potential long trade, while a dip below $1920 may warrant short positioning. With inflation data coming soon, volatility is expected in the short term.
CADJPY
Currency Overview:
The CADJPY pair continues its bullish run, supported by strong oil prices (benefiting the Canadian dollar) and a weaker yen, as the Bank of Japan maintains its dovish monetary stance. With Japan reluctant to raise rates, the yen is under pressure, while CAD benefits from rising energy prices.
Outlook:
If oil remains elevated, CADJPY could continue its upward trajectory. Traders may look to capitalize on potential pullbacks for entry points, but the general direction remains bullish as long as the oil market supports CAD strength.
Tune in for the full analysis and actionable insights in today’s episode of What’s Flowing! Whether you're trading commodities or currency pairs, this episode has you covered with key opportunities in the markets.
GBPJPY: Bullish Movement Ahead of FOMC 🇬🇧🇯🇵
GBPJPY has a perfect potential to continue growing before the FOMC minutes today.
The price started to consolidate after a test of a rising trend on a 4H
and violated its neckline then.
The price will most likely heading towards 195.1 level now.
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GBPJPY Sell IdeaThe GBPJPY has a divergent with EURJPY, if a break of market of structure is seen in this form, then we should see a sell to the common low
GBP/JPY Maintains Bullish Momentum: Eyeing Long-Term GainsThe GBP/JPY pair continues to show bullish potential, despite its neutral correlation with GBP/USD. While both pairs involve the British Pound, their price movements are not strongly linked, allowing them to behave differently even under similar macroeconomic influences. As highlighted in our previous analysis (see link below), the GBP/JPY had a promising chance to grow, and the pair has now reached the 190.000 area, where we opened a long position.
Current Strategy: Targeting 197.200
Our initial target for this long position is set around 197.200, a critical resistance area. In our last forecast, we moved the Stop Loss (SL) to breakeven, ensuring that any adverse price movement will not result in losses. This update reaffirms the likelihood of a long continuation for the GBP/JPY pair, with potential for further gains if the market remains supportive following today’s FOMC Minutes.
Possible Scenario: Partial Profit Taking and Next Supply Zone
If the price hits the take profit level after the release of the FOMC Minutes, we may consider closing 50% of the position to lock in some gains, allowing the remaining portion to run toward the next supply zone around 202.000. This strategy balances profit-taking with the potential for additional upside movement.
Conclusion: Bullish Outlook Intact
The GBP/JPY continues to align with our forecast, and we are watching for a potential long continuation as the pair approaches key technical levels. With the next supply zone around 202.000, there is room for the pair to extend its rally. We remain optimistic and will manage the trade accordingly, with a focus on maximizing gains while protecting the position.
Looking for further long continuation.
Forecast N.1
Forecast N.2
Both in Profit.
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GBPJPY sell signal. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
GBP/JPY Poised for Bullish Breakout...GBP/JPY Poised for Bullish Breakout Amid Yen Weakness and FOMC Minutes
The GBP/JPY pair appears to be accumulating volume within a large triangle pattern, indicating a potential breakout in either direction.
However, 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).
Additionally, the release of the FOMC minutes today is expected to reiterate Federal Reserve Chair Jerome Powell’s recent comments that the Fed is not in a hurry to cut rates significantly. This scenario could create selling pressure on the JPY.
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!
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GBPJPY- Buy above 194.45 (Hull moving average trade setup)GBPJPY consolidating in a narrow range between 194.37 193.89 for the past two days. It hits a high of 194.37 at the time of writing and is currently trading around 194.08. Overall trend remains bullish as long as support 192.50 holds.
Technicals-
The pair is trading above short-term 34, above 55 EMA (193.74 and 193.68), and long-term 365 Hull MA (193.89) in the one-hour chart.
The near-term resistance is around 194.45 (200 Hull MA),a breach above targets 195/195.62/196/197.37 (161.8% fib)/198/200. Major trend continuation only above 196. The immediate support is at 193.89, any violation below will drag the pair to 193.40/192.88/192.50.
Indicator (1-hour chart)
CCI (50)- Bullish
ADX- neutral. All indicators confirm the mixed trend.
It is good to buy above 194.45 with SL around 194 for a TP of 195.60/195.97.
Lingrid | GBPJPY Trend Continuation Opportunity. LongThe price perfectly fulfilled my last idea. It hit the target level. The market is currently testing a key psychological support level at 193.000, following a period of consolidation after recent bullish momentum. If FX:GBPJPY manages to close above the 194.000 level, it could signal continued upward movement, allowing for a retest of the resistance zone above this level. Given the recent bullish sentiment, a clear break and close above 194.000 would likely set the stage for further bullish moves, potentially pushing the price toward higher levels within the established resistance zone. My goal is the resistance at 194.500
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Gbpjpy long continues…Held this for 24hrs now. Hopefully today we see some movement,
Yesterday it was ranging to trap sellers, I always go with the higher TF for overall movement
Elliott Wave Intraday View in GBPJPY Looking for Further UpsideShort Term Elliott Wave View in GBPJPY suggests that cycle from 9.11.2024 low is currently in progress as a zigzag. Up from 9.11.2024 low, wave A ended at 195.97. Pullback in wave B also unfolded as a zigzag Elliott Wave structure. Down from wave A, wave ((a)) ended at 190.96 and wave ((b)) ended at 192.22. Wave ((c)) lower ended at 189.56 which completed wave B in higher degree.
The pair has turned higher in wave C. Up from wave B, wave (i) ended at 193.35 and pullback in wave (ii) ended at 189.84. Pair extended higher in wave (iii) towards 195.17 and pullback in wave (iv) ended at 191.72. Final leg wave (v) ended at 195.62 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) is currently in progress to correct cycle from 9.30.2024 low in 3, 7, or 11 swing before it resumes higher. Down from wave ((i)), wave (a) ended at 192.88. Expect pair to rally in wave (b) then turns lower again in wave (c) to complete wave ((ii)). Near term, while pivot at 189.57 low remains intact, expect dips to find buyers in 3, 7, 11 swing for further upside.
GBP_JPY LOCAL BULLISH BIAS|LONG|
✅GBP_JPY is trading in an uptrend
Along the rising support line
Which makes me bullish biased
And the pair is already making
A bullish rebound from the support
So a further move up is expected
With the target of retesting the level above at 195.500
LONG🚀
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GBPJPYPrevious weekly candle bullish
Previous daily bearish but looking for a retest to keep pushing to the upside
H4 created a new HH
H1 Bearish Double bottom
GBPJPY Short GBPJPY short signal is clearly showing a pattern of rejections on the main resistance line. Looking for an opportunity here, I believe that we will see a nice downfall for this pair moving rather than stagnate like some of the other pairs this last week it seems. I am also in favoring the RSI since the RSI shows a clear indication we are about to cross over the blue moving average and will most likely reach the 40s area of the RSI. Below, I have placed the entry, TP, and SL. Please also be sure to follow us for more signals and give this a boost to show you want more high quality PROFITABLE signals! I also apologize for not being here in the last few months as I was dealing a lot of matters with my business partners and as well went to Hawaii for some vacation time. Thanks again for the support and happy profitable trading sessions, everyone!
ENTRY: 194.416
TP 1 (Day Trade): 190.471
TP 2 (Swing Trade): 184.480
SL: 25 pips from entry
DAY/SWING TRADE! You DON'T have to hold the trade till it hits TP! You can simply hold and trade until you feel most comfortable taking your profits.
Please message me if you have any questions! Please enjoy your day and be sure to follow our page!
#GBPJPY 1DAYGBP/JPY daily chart, the overall trend appears to be an uptrend, but a potential **sell opportunity is emerging. Here's a breakdown of the situation:
1. Uptrend Formation: The pair has been trading in an upward direction, characterized by higher highs and higher lows, indicating that bullish sentiment has been dominant over the past days.
2. Potential Reversal Signals: However, certain technical indicators and price action may be hinting at a potential reversal or pullback. Signs such as overbought conditions (on RSI or stochastic), bearish candlestick patterns (like doji, shooting star), or divergence between price and momentum indicators could be signaling exhaustion in the current uptrend.
3. Key Levels: The current price is approaching key resistance levels where sellers might step in. If the price fails to break above these levels, it could result in a sell-off or a corrective phase.
4. Forecast: Given the extended nature of the uptrend and potential exhaustion, this could be a good opportunity to consider **short positions** or selling into strength. A break below recent support or a clear bearish signal would further confirm the sell scenario.
Recommendation: While the overall trend has been bullish, the upcoming days could see a correction or reversal. Watch for sell signals near resistance zones and be ready to adjust your position accordingly if the market continues to weaken.
Bullish ContinuationGot an Early Entry on This setup.
A close above 194.000 should confirm the bullish momentum to the upside.
Lets see how this plays out .
Expecting price to put back up to 195.000
Entry : 193.927
SL: 193.450
TP: 195.000
Don't miss the great SEE Opportunity in GBPJPYCurrent Market Structure: The price is moving upwards in a clear uptrend. After a recent pullback, it seems to be heading towards a support level near the 192.450 area, marked by the blue line.
Trade Setup:
Support Zone: The grey-shaded area below the blue line indicates a potential support or demand zone, where buyers are expected to step in, between 191.550 and 192.450.
Long Entry: The chart suggests waiting for the price to dip into this support zone before entering a long position.
Target Zone: The green shaded area above indicates the profit target of around 195.950.
Bullish Outlook: The expectation here is that after testing the support zone, GBP/JPY will reverse upwards toward the target at 195.950, indicating a bullish continuation after a minor retracement.
This setup presents a buying opportunity around the support area (191.550–192.450), with a clear target near 195.950, aligning with the uptrend.
#GBPJPY: Is it correction for Bears or change of character? Dear traders,
GBP/JPY has experienced a significant correction. The price reached the 195 level before declining to the 190 level. Currently, the price is fluctuating around 193.68, and a potential upward movement may extend to approximately 197 or 198. If the price disregards this range and breaks out to a higher level, we have identified a secondary entry point that offers a safer entry for risk-averse traders. Additionally, it is crucial to monitor the performance of the US Dollar Index (DXY), as its bullish trend can negatively impact the Japanese yen (JPY), leading to a surge in all JPY pairs to new highs. Therefore, close attention should be paid to the DXY's performance.
In our professional opinion, the price has formed an "AB=CD" pattern. Furthermore, an examination of the 4-hour timeframe suggests the possibility of a character change. Should this occur, we will provide an update. Please conduct your own research before executing any trades, as this chart is solely for educational purposes.
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Thank you.
Team Setupsfx_
Cup and handleFYI
DYOR
GBPJPY try to make handle, and completely cup and handle pattern.
After made 2 higher low, in last week. Price will retest fresh supply above 200 again
