GBPJPY | 06.11.2024SELL 198.800 | STOP 200.00 | TAKE 197.600 | Business activity in key sectors of the British economy is again declining. The pair entered a period of consolidation. We expect a short decline.
JPYGBP trade ideas
GBP/JPY Analysis: Shorterm BuyThe GBP/JPY pair currently shows a retracement from recent highs, and we can observe key levels of support and resistance based on Fibonacci retracement levels and trend lines.
Trendline Support: A rising trendline from previous lows suggests continued bullish momentum as long as the price respects this trendline. The recent test of this trendline indicates a possible continuation to the upside if buyers maintain control.
Fibonacci Retracement Levels: Key retracement levels are marked:
The 23.6% retracement near 198.97 serves as the first potential resistance area. A break above this level could lead the price towards the next resistance.
38.2% (198.61) and 50% (198.33) levels provide additional zones where the price might face resistance before potentially moving higher.
Key Support Levels:
The 198.00 level acts as a psychological and technical support, with further support down to 197.50.
If the price breaks below these support levels, it may signal a reversal or deeper correction.
Potential Scenarios:
Bullish Scenario: If the price respects the trendline and moves above 198.97, we might see an attempt to test the recent highs around 199.50 - 199.70.
Bearish Scenario: Failure to hold above the trendline and a breakdown below 197.50 could initiate a deeper pullback, possibly targeting support levels around 196.50 or lower.
Conclusion: The bias remains bullish as long as the trendline support holds. However, key resistance levels around 198.97 - 199.50 need to be watched closely, as they could signal either a breakout to new highs or a potential reversal if selling pressure intensifies.
gbpjpyHELLO Traders, GBPJPY pairs now creating liquidities above and approaching into fresh supply which has the potential to reverse down trend
GBP_JPY NEXT MOVE|LONG|
✅GBP_JPY is set to retest a
Strong support level below at 196.000
After trading in a local downtrend from some time
Which makes a bullish rebound a likely scenario
With the target being a local resistance above at 198.000
LONG🚀
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GBPJPY TREND BASE TRADEExpecting a trend-following buy trade from the current price level. The overall market trend is bullish, with a recent breakout of resistance that led to a new high. Now, the market is retesting this former resistance on the daily chart, which we’re viewing as support.
On the 1-hour chart, a double-bottom pattern has formed, and its neckline has broken. We’ll look to enter a trade on the retest.
Entry 197.247
Sl 196.75
Target's 197.84 , 198.07 & 198.35
KEEP BUYING GBPJPY TILL 208.000!!!!!!!!GBPJPY rose over +300pips from my first recent calls on buy now again we have the price taken out the falling wedge pattern with a retest now am in on buy holding till we sweep all liquidity above my goal target is 208.000 using Daily time frame pattern spotted out a double bottom pattern...
GBPJPY BUY PROJECTION GBPJPY is in a demand zone with due to the news earlier price is gonna go long. Checking also there's a breakout and retest to the zone to go long.
GBPJPY BEARISH FOR 140PIPSEntry Point: Look for an entry around a resistance level on a 4H or daily chart. A retest of broken support could also be an ideal entry area.
Stop Loss and Take Profit: Position a stop loss just above a recent swing high to minimize risk, with a profit target aligned to key support zones that give the potential for a 1,140-pip move.
Trailing Stop: Since this target is large, using a trailing stop can lock in profits while allowing the trade to capitalize on prolonged trends.
GBPJPY | Short IdeaI am looking to short GJ from the the yellowish zone, there is also a falling resistance line which will act as a strong selling point from the seller.
The stoploss in the trade will remain at 202.944 and target price is 185.042. This is a 1:4 Risk reward trade
GBP/JPY: Likely to Move HigherHi there,
The support zone of 197.545-197.464 needs to hold, and a higher low must form above it for a possible bullish continuation. The price is in a bullish trend on the daily and weekly timeframes, moving toward the 199.026 area.
Overall the price has low volatility with strong bullish volume; it will require monitoring.
Happy Trading,
K.
GBP-GPY Analysis This is my idea of Buy and Sell on GBP-GPY. Support and Resistance analysis on a target around 1-1RR.
GBPJPYSell signal 📶
Entry 198.88
SL 199.85
TP 195.67
This is a sell signal 📶 for GJ, trade with SL.
Enjoy the trade
GBP/JPY BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
GBP/JPY is making a bearish pullback on the 2H TF and is nearing the support line below while we are generally bullish biased on the pair due to our previous 1W candle analysis, thus making a trend-following long a good option for us with the target being the 198.124 level.
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Trade idea - GBPJPY Long4H
Corrective approach towards entry zone.
Market moving in Bull Flag formation.
= Confirmation to place Buy limit.
1.5% risk.
Aiming to take full profit at Daily TP.
GBPJPY - LongGJ is in an uptrend and market the ABC on the chart pattern, therefore riding towards D.
GBPJPY Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
GBPJPYAnalyse on different timeframes.
Monthly its pushing up
Weekly need the retest of the neckline from the double bottom created
Daily its stuck
H4 consolidation
GBPJPY TO SELL (GBP Claimant Count Change)Based on the level of resistance, we could see GBPJPY's price to drop as a short. There was claimant count change news for the GBP currency this morning.
Entry: 197.00
Take Profit: 196.5-196.00
GBP_JPN (110 Pips)Technical Analysis: Triple Resistance Test Failure
Pattern Overview
A significant bearish signal has emerged with the triple resistance test failure, followed by a key reversal pattern at a high pivot point. This formation suggests increased selling pressure and potential trend reversal.
Key Technical Elements
1. Triple Resistance Test
- Price made three distinct attempts to break above resistance level
- Each attempt showed progressively weaker buying momentum
- Final rejection demonstrates strong selling pressure at this level
2. High Pivot Point Formation
- Created at the peak of the third resistance test
- Represents a critical turning point in market sentiment
- Historical significance as a major price level
3. Bearish Engulfing Pattern
- Large bearish candle completely engulfing previous bullish candle
- Occurred at a crucial technical level (High Pivot Point)
- Significant volume accompanied the pattern, validating its importance
Technical Implications
- The failure of three consecutive attempts to break resistance indicates strong overhead supply
- The bearish engulfing pattern at the pivot point suggests a potential trend reversal
- Expect increased selling pressure in the near term
- Previous resistance level now likely to act as strong resistance for future attempts
Risk Management Considerations
- Short positions should consider placing stops above the high pivot point
- Long positions should exercise caution and potentially reduce exposure
- Volume analysis crucial for confirming strength of the reversal
Conclusion
The combination of a triple resistance failure and bearish engulfing pattern at a high pivot point presents a compelling case for bearish sentiment. Traders should monitor volume and price action closely for confirmation of the reversal signal.
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GBPJPY at Support with Bullish Divergence – Potential Reversal"GBP/JPY is currently testing a strong support level and showing signs of a potential reversal as a bullish divergence forms.
GBPJPYHey traders, this is Rogue_Trader007. GBPJPY has a strong support level at 0.786 Fib level, which is also a hidden Divergence when combined with 14 period RSI. This makes a great entry as it usually shoot towards the 1.272 Fib level.
Making this a strong BUY.
