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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY - Look for Continuation Long (SWING) 1:6!GBPJPY has rebounded from the HTF support level, breaking the trendline in alignment with a bullish market structure, indicating strong buying activity. There's currently no sign of reversal. On the HTF, a solid double bottom has formed, suggesting market sentiment may push the price higher. This is further supported by the recent BOJ decision, showing no urgency to raise interest rates, reinforcing the bullish momentum. Disclaimer: This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Long
by S-Fx_
GBPJPY-Go long above 193.32(15 min trading strategy for intradayGBPJPY tradin in a narrow range between 191.76 and 193.32 in past two days.It hits a low of 192.51 at the time of writing and is currently trading around 193.23. Intraday trend is bullish as long as support 192.40 holds. Technicals (15 min chart) The pair is trading above short-term 34,55 EMA (190.23 and 191.72) and long-term 200 EMA (191.51) in the 15-minute chart. The near-term resistance is around 193.32,a breach above targets 193.70/194.14 The immediate support is at 192.80, any violation below will drag the pair to 192.40/192/191.70. Indicator (15 min chart) CCI (50)- Bullish Average directional movement Index - Bullish. All indicators confirm a bullish trend. It is good to buy above 193.32 with SL 192.80 for a TP of 194.15/194.50.
Long
by FxWirePro
Analysis of GBP/JPY on 4H Time FrameAnalysis Breakdown Elliott Wave Structure The chart shows a complete 5-wave impulse that started around the 178.375 level and extended upwards near 197.58, where Wave 5 is approaching its end. The following breakdown highlights each significant movement: Wave 1 (Red) initiated from the low at 178.375 and set the foundation for the upward impulse, followed by Wave 2, which retraced but respected key Fibonacci levels. Wave 3 (Red) marked a strong rally, typically the longest and most extended in Elliott Wave structures, reaching levels around 191.000. This was followed by Wave 4, which consolidated and retraced again but did not breach critical support. Wave 5 (Red), nearing completion, reaches a high of around 197.58, where the price has begun to show signs of exhaustion. The wave count suggests that Wave 5 could be nearing an end, and the market is primed for a corrective movement. Fibonacci Retracement Levels The retracement levels have been drawn from the low at 178.375 to the current high around 197.58, marking potential key support levels for the anticipated correction. 0.236 Retracement: 193.414 0.382 Retracement: 191.570 0.5 Retracement: 190.000 These levels are critical to watch for in the next phase, as they are potential targets for price retracements after the completion of the impulsive Wave 5. Invalidation & Risk Management The invalidation level is set at 198.820. Should the price break above this level, the Elliott Wave count would be invalidated, suggesting that the bearish outlook would no longer hold. This serves as a stop-loss point for traders, indicating when to exit a short position. The chart suggests a risk-to-reward ratio of approximately 1:3.85, meaning the potential profit from a successful trade setup would outweigh the risk by a factor of 3.85. Corrective Outlook (Wave A, B, C) With Wave 5 near completion, the chart suggests the start of a corrective phase consisting of three corrective waves labeled as A, B, and C. Wave A: The initial drop is expected to bring the price to the first Fibonacci level around 193.414. Wave B: A potential short-term rebound before further declines. Wave C: Expected to complete the correction around the 0.382 Fibonacci level (191.570), though it could extend to the 0.5 Fibonacci level (190.000), depending on the strength of the correction. This suggests a bearish outlook in the next two weeks, with key targets below the 193.000 level. Volume Profile & Point of Control (POC) The Point of Control (POC) at 199.900 represents a strong resistance level where a large volume of trades has occurred. Given that the price is currently near this area, it acts as a potential cap for any upside movement. Below the POC, the chart suggests that downside pressure could increase as sellers dominate the market, especially after breaching key Fibonacci retracement levels. Support Zones Support Line - SC Accumulation (4H): Around 178.375, this zone indicates where significant buying pressure was observed in earlier phases, marking a long-term support level for the pair. Phase C Support: The market could eventually revisit the Phase C support zone near 180.000, indicating a significant bearish move is possible if the corrective wave extends beyond the initial retracement targets. Conclusion The technical analysis of the GBP/JPY pair on the 4-hour time frame suggests that the pair is nearing the end of an upward 5-wave Elliott impulse. After reaching a high around 197.58, the price is expected to enter a corrective A-B-C wave structure. The first corrective target lies at the 0.236 Fibonacci retracement of 193.414, followed by the 0.382 retracement near 191.570. The analysis identifies potential support and resistance levels, alongside an invalidation level at 198.820, which should serve as a key risk management point. Over the next two weeks, a bearish correction is expected, with targets below 193.000 and potentially reaching the 190.000 level, depending on the strength of the upcoming retracement. Traders should prepare for a potential short-selling opportunity, with a focus on key Fibonacci retracement levels and resistance zones near the POC at 199.900.
Short
by spacedevil
5
Potential bullish bounce?GBP/JPY is falling towards the support level which is a pullback support and could bounce from this level to our take profit. Entry: 193.28 Why we like it: There is a pullback support level. Stop loss: 190.41 Why we like it: There is an overlap support level that lines up with the 38.2% Fibonacci retracement. Take profit: 199.15 Why we like it: There is a pullback resistance level that aligns with the 161.80% Fibonacci extension. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
"GBP/JPY Locking in a Horizontal Standoff''The GBP/JPY pair has been gaining momentum after carving out a solid double bottom around the 184.0 mark, bolstered further by a correction in the yen, which in turn was spurred by the dollar’s unexpected reaction to the U.S. interest rate cuts. Despite this recent strength, a decline could still unfold as the pair approaches the critical resistance range of 192-193.5. Several underlying factors play a role here: Japan remains committed to tightening its monetary policy to stabilize its currency, while the dollar may continue to weaken as traders absorb the impact of the U.S. rate cuts. This confluence of factors may weigh on JPY’s strength and shape a medium-to-long-term strategy for the pair. From a technical standpoint, I’m anticipating a potential false breakout or rejection from the 192-193.5 resistance zone, which could trigger a move downwards toward key liquidity levels. Key resistance levels to watch are 191.4, 193.48, and 193.97, while support stands at 190.5 and 186.7. However, should the bulls manage to secure a foothold above 193.97, a fresh bullish impulse could ignite, as the overall technical and fundamental landscape remains on edge. The tension in the current environment suggests that while a downward move is likely, a breakout above the top resistance could open the door for further upward momentum. Traders, if you found this idea helpful or have your own insights to share, feel free to drop a comment. I’d love to hear your thoughts!
Short
by lonelyPlayer0
1
GBPound DownHello Everyone . My idea on GJ is based on price action & is taken with a top-down approach. HTF : we can see a bearish impulse leg with what now seems to be a possible continuation flag. LTF : within the HTF structure we can now see an ascending pattern ,giving me a more solid bias as we get near the Point Of Interest Zone of the previous high. Trade : i will look for bearish price action on my trade time frames {15m/30m} to form and take this trade according to my trading plan . Should the chart not fit my plan i will not take this trade setup but wait rather for chart development
Short
by Hivemind_FX_
7
GBPJPY BUY Trade Activated Sept 26 A simple trade using the knowledge of market structure and checking the story from higher TF to lower TF. As you can see, it is moving in the upward direction. I was waiting for buy trade using my old time buddy lists :) ---> POI ---> IMB, OB, Supply and Demand with validity or proof using BOS --> CHOCH or liquidity grab in the direction of the trend. This trade was activated by a buy limit order at around N.Y session. Aiming for 4:1 RR :) #smartmoney #patience #characterandiscipline
Long
by glyrad
GBPJPY Best long-term buy signal you can get.The GBPJPY pair closed last week above the 1W MA50 (blue trend-line) and this week opened above the 1D MA50 (red trend-line). The long-term pattern has been a Channel Up since the September 2022 market bottom and since the July-August Bearish Leg, the pair has been pricing its new bottom (Higher Low). The break-out above the 1D MA50, while at the same time the 1W RSI breaks above its MA, has been the ultimate long-term buy confirmation during the last bottom formation in February 2023. Since the Bullish Leg that followed rose by +20.15% and a little below the 2.0 Fibonacci extension, we expect a similar rally, thus settling for a 220.000 Target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Analysis of GBP/JPY on 1H Time FrameOverview This chart represents the GBP/JPY pair on a 1-hour (1H) time frame with a complex overlay of technical analysis frameworks, most notably a combination of Wyckoff Distribution and Elliott Wave Theory. The chart is densely marked with key points that suggest the presence of a distribution phase, with an expected price decline over the next two weeks based on the patterns identified. Key Terminology & Concepts Wyckoff Distribution: A phase where a market transitions from an uptrend to a downtrend. The market undergoes multiple stages: Preliminary Supply (PSY), Automatic Rally (AR), Secondary Test (ST), Upthrust (UT), and Sign of Weakness (SOW). Elliott Wave: A technical analysis theory that interprets market movements in a series of 5-wave impulsive patterns and 3-wave corrective patterns. SOW (Sign of Weakness): A point in the Wyckoff Distribution where downward pressure becomes more pronounced, signaling a potential bearish continuation. Upthrust (UT): A momentary breach of resistance, typically a false breakout, signaling the final stages of distribution. Phase B: Part of the Wyckoff method where the asset shows sideways movement before entering a significant downtrend. Analysis Breakdown Wyckoff Phases Preliminary Supply (PSY): The chart has identified PSY early on, where initial signs of selling pressure emerge in an upward trend. Automatic Rally (AR): Following PSY, the price rallies as buying pressure absorbs the selling, but it lacks strong momentum, hinting at distribution rather than accumulation. Secondary Test (ST): ST represents a testing phase where the price re-visits key support levels, confirming that the market is not ready for a breakout to new highs. Upthrust (UT): Marked towards the final leg of the uptrend, UT is a false breakout where the price temporarily breaches resistance, reaching a high around 193.57, signaling exhaustion of buyers. Sign of Weakness in Phase B (SOW): In Phase B, after the upthrust, the price shows signs of losing strength and begins to drift lower, suggesting the onset of distribution. The chart has marked this as "SOW in Phase B" indicating growing bearish momentum. Elliott Wave Application Wave Structure: The chart integrates Elliott Wave analysis alongside Wyckoff’s phases. Wave (iii) marks the end of a strong upward impulse wave. Wave iv indicates a corrective move, possibly forming the penultimate stage before a final bearish decline. Wave v is expected to complete around the Upthrust (UT) region, marking the last wave in the upward cycle before the major downtrend begins. Price Zones & Resistance/Support Resistance Line - BC Distribution: At 193.574, this acts as a strong resistance level that has been tested during the upthrust. The chart expects this level to hold and not break further. Support Line - AR Distribution: Around 192.168, this support line from the Automatic Rally (AR) is expected to be tested and possibly broken as distribution proceeds. Future Price Expectations Downside Expectation (Next 2 Weeks): The Wyckoff Distribution suggests that after the Upthrust (UT), the price is likely to enter a significant downtrend. The chart projects a move into Wave i and Wave ii, part of a larger bearish Elliott wave structure. The key target zone is below 192.000, where further price weakness is expected. Weekly Close Expectation: Based on the projections, the chart anticipates a bearish close around 30th September 2024, signifying a continuation of the selling pressure. 1W Close (weekly close) is marked near 190.000, indicating a significant decline in the pair over the next week. Potential Bearish Continuation: The longer-term outlook reflects the completion of a distribution phase, followed by continued downward pressure, possibly testing lower levels around 189.000 in Phase A of the distribution process. Conclusion The technical analysis on the GBP/JPY pair suggests the pair is currently completing a distribution phase under the Wyckoff Method, with key bearish signals forming. After reaching a high near 193.57, the price has shown an Upthrust (UT), signaling exhaustion and a likely reversal. Coupled with Elliott Wave Theory, the pair is projected to enter a corrective Wave v, followed by a larger downtrend that could test levels below 192.000 over the next two weeks. The 1W close is expected to confirm this bearish sentiment with a significant decline by 30th September 2024. As such, traders should prepare for a potential short-selling opportunity, with key levels of support to monitor around 190.000 and 189.000.
Short
by spacedevil
2