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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBP/JPY Set for Big Moves:Key Reversal Before a Bullish Surge Key Terminology & Concepts: Wyckoff Methodology (Phases A to C): The chart indicates an accumulation phase according to Wyckoff's theory, where smart money is accumulating positions before an uptrend. Key labels include AR (Automatic Rally), SC (Selling Climax), ST (Secondary Test), and LPS (Last Point of Support), marking potential points where institutional traders take positions. Harmonic Patterns: A Bearish Gartley Pattern is visible, suggesting a potential retracement. This harmonic pattern is characterized by specific Fibonacci retracement levels that outline the price movement from points X, A, B, C, and D. The completion of this pattern indicates a potential reversal zone near the 0.786 retracement of the XA leg. Elliott Wave Theory: The chart employs Elliott Wave analysis to count the waves of price action. The corrective wave structure labeled (a), (b), (c) within a larger wave count indicates that the price is currently in a corrective phase. The third wave (iii) has peaked, and we're potentially in a wave (iv) pullback, with wave (v) to follow. Fibonacci Extensions & Retracements: Fibonacci retracement levels such as 0.786 and 1.236 are used to pinpoint potential support and resistance zones. The 1.236 extension (187.247) aligns with a key support area, suggesting a possible target for the upcoming correction. Volume Profile: The Point of Control (POC) and Volume Area Low (VAL) zones around 187.8 serve as important support and resistance levels. Price has previously reacted to these levels, indicating institutional interest. Break of Structure (BOS): BOS (Market Structure Break) and BOS Internal are indicated on the chart, signaling the potential areas where price breaks out of a trend, further validating the correction thesis. Detailed Breakdown Phase A: Wyckoff Accumulation In this phase, the price forms the Selling Climax (SC) at 183.753, indicating a strong reversal point. The Automatic Rally (AR) occurs as a response to the SC, showing institutional buying pressure at 187.812. The ST (Secondary Test) confirms that buyers are in control as it tests the support level formed by the SC. Phase B & C: Transition The price moves into Phase B, which shows consolidation, characterized by smaller LPS (Last Point of Support) levels, confirming the accumulation pattern. The bullish breakout in Phase C is marked by a strong upward move, forming a new higher high at point C (195.951). Bearish Gartley & Expected Decline The Bearish Gartley pattern is clearly outlined between points X, A, B, C, and D. The current price is at point C, near the 0.876 retracement of the XA leg, which signals that a potential bearish reversal is imminent. This coincides with the Sell Side liquidity, indicating that the market might soon experience selling pressure. Elliott Wave Analysis Elliott Wave analysis suggests the price is completing a corrective wave (iv) after reaching point (iii). A final bullish impulse wave (wave v) is expected to follow. The internal structure shows that we are likely at the end of wave (b) within this larger corrective structure, with wave (c) pointing towards further declines before resuming upward momentum. Short-Term Price Expectation (Next Two Weeks) Bearish Pullback & Support Test Key Support Levels: Expect a pullback toward the 1.236 Fibonacci extension (187.247) and 0.786 retracement (186.368), which align with the bullish order block. This area represents a high-probability zone for bullish interest to return. Bearish Target: The correction could deepen into the Volume Area Low (VAL) at around 186.313, forming a low of the corrective wave (iv). The Support Line (SC Accumulation 1H) around 185.8 offers strong confluence for a potential reversal area. Bullish Continuation After Pullback Resistance & Reversal Zones: After testing the support levels, we anticipate bullish momentum to return, forming the final wave (v) toward a new high. The first bullish target could be the Sell Side Liquidity at 193.5, with the Current Weak High of Range marked at 195.5 as a potential upside target. Conclusion In the next two weeks, the market is likely to experience a corrective pullback within a larger uptrend. The 1.236 and 0.786 Fibonacci retracements provide key support areas where buyers are expected to step in. After this correction, the final wave of the uptrend (wave v) should resume, targeting new highs near 195.951. Use these critical support and resistance levels to manage positions and monitor any break of structure to validate directional bias. Key Action Points: Watch for bearish retracement towards 187.247–186.368. Enter long positions near key Fibonacci and Volume Profile support. Target new highs at 193.5–195.5 after the corrective wave completes.
Long
by spacedevil
7
Noob prediction for GBP/JPYHai and good night from me Key Elements: 1. Fibonacci Retracement Levels: The 0.618 Fibonacci level at around 191.199 appears to have acted as a strong support level where price bounced back up. The next notable Fibonacci extension seems to be around 203, indicating a potential future target based on this retracement pattern. 2. Green Zone (Resistance): The green zone between approximately 197 and 198 could represent a significant resistance area. If the price moves into this zone, it might face selling pressure. 3. Arrows (Forecasted Movement): The first arrow (pointing upward) suggests the possibility of a short-term rally into the green resistance zone. The second, shorter arrow pointing downward suggests a potential retracement or pullback from the resistance before moving higher. 4. EMA 50: The Exponential Moving Average (EMA) 50 could be acting as dynamic support. If price stays above the EMA, it could further confirm a bullish trend. Potential Scenarios: Bullish Scenario: If the price manages to break through the green resistance zone convincingly, the next potential target based on Fibonacci extensions would be around 200-203. Bearish Scenario: If the price fails to break the resistance and falls back, it could retest lower levels like the 0.618 Fibonacci (191.199) or even the 0.5 Fibonacci level near 190.000. Strategy Consideration: Aggressive Entry: If you believe the price will break into the green zone, a buy position with a tight stop loss below the recent lows might be a strategy. Conservative Approach: Waiting for a clear break above the resistance zone (198) before entering a buy position might reduce risk.
Long
by teh123
My humble noob prediction for GBP/JPYHai and good night from here Key Elements: 1. Fibonacci Retracement Levels: The 0.618 Fibonacci level at around 191.199 appears to have acted as a strong support level where price bounced back up. The next notable Fibonacci extension seems to be around 203, indicating a potential future target based on this retracement pattern. 2. Green Zone (Resistance): The green zone between approximately 197 and 198 could represent a significant resistance area. If the price moves into this zone, it might face selling pressure. 3. Arrows (Forecasted Movement): The first arrow (pointing upward) suggests the possibility of a short-term rally into the green resistance zone. The second, shorter arrow pointing downward suggests a potential retracement or pullback from the resistance before moving higher. 4. EMA 50: The Exponential Moving Average (EMA) 50 could be acting as dynamic support. If price stays above the EMA, it could further confirm a bullish trend. Potential Scenarios: Bullish Scenario: If the price manages to break through the green resistance zone convincingly, the next potential target based on Fibonacci extensions would be around 200-203. Bearish Scenario: If the price fails to break the resistance and falls back, it could retest lower levels like the 0.618 Fibonacci (191.199) or even the 0.5 Fibonacci level near 190.000. Strategy Consideration: Aggressive Entry: If you believe the price will break into the green zone, a buy position with a tight stop loss below the recent lows might be a strategy. Conservative Approach: Waiting for a clear break above the resistance zone (198) before entering a buy position might reduce risk.
Long
by teh123
1
GBPJPY Buy analysisGJ created a demand OB at approximately 190.300. After that we had a push towards the upside reaching app. 193.00. As price went down, a potential supply OB was created which would be our target due to the confluence of equal highs created right under it. Price pushed further mitigating the 190.300 OB and created a new one once it reacted off of it (This was our entry DOB). Right before the asian session an area of sell-side liquidity was created and our asian session created highs and lows which also acted as liquidity. Right after the asian session, price swept the Asia low liquidity as well as the sell-side liquidity and tapped into the second DOB, This is where we entered. The target was simply imbalance that was made by the push towards the DOB, then the Asia high liquidity and finally the equal high liquidity. Trade went to TP and went even further, pushing through the Supply OB which was our TP.
Long
by ajdam
GBPJPY Set To Fall! SELL! My dear subscribers, My technical analysis for GBPJPY is below: The price is coiling around a solid key level - 193.29 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 192.20 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
7
GBPJPY NEXT MOVE (expecting a bullish move)(26-09-2024)Go through the analysis carefully, and do trade accordingly. Anup Bias (Mid term) Current price- 193.000 "if Price stay above 191.900, then next target is 195.000 and 196.00 and below that 191.000. prefect buying zone- 192.500-193.00 (we have to wait for the price to reach here) -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk 2% of principal to follow any position. Support us by liking and sharing the post.
by AnupZiddi
8
GBPJPY Correction Upwards#trading_idea 💡 #GBPJPY - Watch Resistance On the 4h chart, we can see the price is rising above middle line of Bollinger. The MACD and Bulls&Bears both point on possible move upwards. The price is above is above MA(100). Possible scenarios: 🔼If the prise break through 192.700 resistance we may see the rise towards 193.800. 🔽Otherwise, a slide towards 191.328 support and lower is possible. 😎 🔖 Click "👍" if you think the price will rise and "👎" if you think it will slide back. ➡️GET $20,000 JUST FOR $99
Long
by sabiotrade
GBPJPY OverviewLooking at the GBP/JPY 1-hour chart, I see that the price is heading toward the supply zone at 192.982. After clearing liquidity around the 189.919 level, the market has shifted upwards, breaking through key resistance zones. This strong bullish push suggests that buyers are in control and aiming to test that supply zone. As the price approaches 192.982, I’m keeping an eye on it, since this could act as a significant resistance area where sellers might jump back in. If the supply zone holds, there’s a chance we could see a pullback or reversal from this level. Right now, I’m riding the bullish momentum toward the supply zone, but I’ll be watching closely for any reaction when we reach it. If we start to see signs of weakness, it might be time to consider a shift in strategy. OANDA:GBPJPY
Long
by Astonstevn
GBPJPY H1 - Short SignalGBPJPY H1 This play was huge yesterday, a monster 332 points in total we saw GBPJPY sell off, immediately from the EUR/LON bell too. Those first hourly candles sold off as much as 160 points, offering around 2 to 2.5R in very quick succession. This was really enjoyable to see unfold. No doubt ***GBP pairs as mentioned have be wild to trade recently, especially with the trading antics we saw on Friday, with the 600 point swing. Lets see what else is offered today, sitting on the side-lines until things start to shake up for us and offer the next entry points.
Short
by Trade_Simple_FX
GBPJPY Trendline Breakout , 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