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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

UPDATE ON GBP/JPY TRADEGBP/JPY 4H - As you can see this pair has played out exactly the same, telling us that there is weakness across the board with the Japanese Yen. I am wanting to see this weakness come to an end. You can see the area we have marked out above, giving us an area we could look to take profit from. Once price trades in its important we look to take profit and prepare for the down move. This trade is currently running + 69 pips. (+ 2.8%) 2.8RR If price continues to trade through this area and absorb price then that would give me the impression that price may want to trade higher up and into the last buy to sell region above before moving lower. Its important we wait for all pieces of confirmation before we look to execute any trades we are wanting to place, giving us the highest probability of being successful.
Short
by Lukegforex
Pound-yen’s uptrend still seems to be activeCompared to cable, the pound’s performance against the yen in the third quarter so far has been much better. The Bank of Japan’s governor Kazuo Ueda reiterated recently that any upcoming further rate hikes would be gradual and according to economic conditions. ¥205, corresponding to about ¥160 for dollar-yen, might be the area of further governmental intervention, but that’s not likely to be in view for GBPJPY for a while yet. ¥195 was an important resistance and technical reference in late September and for much of last month and seems likely to continue as a key area. This coincides with the value area between the 50 SMA from Bands and the 100 SMA. Now that volume has dropped off somewhat compared to earlier in November and ATR isn’t rising strongly, it’d be possible to see a pause for a few days as participants digest upcoming data. It’s not clear yet how strong the 50 SMA is as a potential dynamic support. The current situation favours the carry trade quite strongly since the differential is 4.5%, which seems quite unlikely to change drastically within the next several months at least. The next significant move up if it occurs probably depends on the return of higher volume, which could be in the middle of December around the British job report and the BoE’s meeting.
by Exness_Official
GJ sceneriosnews yesterday was pretty bad, tonights also but can be messy, im looking for this scenario, price 1hr closes under our entry, and the retest up to this zone gets slapped, im looking to short this. maybe not to tp, as there is quit some strong areas there, but maybe trail 15m highs when it dumps down. tonights news maybe damn messy, so if i enter this, likely small order, or i would want majority or major news tnt to be bad for usa. or all news to be done, then if this happens then i''ll trade it.
Short
by Formedzeus
Sells on GBPJPY on 20 NovOn Tuesday, we hit TP, but the price retraced back up during the NY session. Here’s how we approached the setup: Key Steps: Pre-London Setup: The first candle closed above the marked zone. Analyzing 4H Rejection: A massive rejection wick on the 4H candle indicated this could be the top, suggesting a possible retracement. Fakeout Anticipation: The next candle closed below the zone, which we anticipated could be a fakeout. Weak Confirmation Post-London Open: Another candle closed above, but it lacked strong confirmation. By this time, London Open had already passed. Waiting for Clear Direction: We remained patient, and the next candle closed below the zone again, solidifying the bearish bias. Entry Execution: Placed sell stops at the break of the current low on the 30-minute candle after confirmation of bearish price action. Stop-loss (SL) was initially set at the previous high but adjusted to allow room for price movement. Confirmation and Results: Continued monitoring showed candles consistently closing below the zone, confirming the bearish trend. Woke up to a 106-pip profit—a solid trade executed with patience and discipline!
Short
by arpitdahal
GBPJPY TF TRADEPair: GBPJPY Trade Opportunity: Sell Type: Scalping The daily market trend is bearish because the market has broken below a support level from November 4 and another support level from October 31. After the breakout, both of these supports are now acting as resistances. Currently, the market is retesting the October 31 resistance level. On the 15-minute chart, a double-top trading pattern has formed, and its neckline has been broken to the downside. The market is now retesting the neckline of the pattern, where trades are being initiated. Entry 195.334 Sl 196.10 Tp 194.406
Short
by ArtOfTrading33