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JAPANESE YEN / BRITISH POUND

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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.
Long
by AEL_Education
GBPJPY: Day 3 breakout traders long!Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 ✅ Friday DAY 3 Closing Range 2. SIGNAL DAY First Red Day First Green Day 3 Days Long Breakout ✅ 3 Days Short Breakout Inside Day 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside ✅ Backside 4. THESIS: Long: this is currently my main thesis at the moment, the market itself is still inside the previous weekly range, but in the new week is pumping higher making constantly higher highs and higher lows. Day 3 breakout traders long is a signal that depending on the template can explode in the direction of the trend or reversal. However, yesterday the market closed out of balance and today it can still keep going higher targeting the previous HOW, completing then 2 weeks of dump and pump template. Today, Asia placed a higher high into the yesterday HOD and is currently retesting the most recent low. FOMC and other news are in schedule for the day, but if the price will consolidated around the current level, I would be willing to take this long opportunity for 100+ pip. Short: at the moment I'm not interested in the short scenario, unless the market will pump back up into the closing price of yesterday, consolidating for a short trade opportunity which I will consider only a scalp, eventually back into the current LOD. Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni
by GianniPichichero
17
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.
Short
by NYHTSTAR
GBPJPY - Trend-Following Long!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPJPY has been overall bullish, trading within the rising channel in red. Currently, GBPJPY is in a correction phase, so the lower bound of the channel would act as support. Moreover, the green zone is a strong structure. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green structure and lower red trendline. 📚 As per my trading style: As #GBPJPY approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
GBPJPY US Election Rally Buy GBPJPY @ 196.3 - 195.9💷GBPJPY💴 US Election Rally 💎Buy GBPJPY @ 196.3 - 195.9💎 Tuesday 11/05/2024 07 PM 195.1 StopLoss —> 196.35 BreakEven+ Scalp TakeProfit 1: 196.5 TakeProfit 2: 196.7 TakeProfit 3: 196.9 Daily TakeProfit 4: 197.1 TakeProfit 5: 197.3 Swing TakeProfit 10: 198.3 TakeProfit 20: 200.3 TakeProfit 30: 202.3 Position TakeProfit 50: 206.3 TakeProfit 100: 216.3 TakeProfit 200: 236.3 TakeProfit 300: 256.3 Richard Eyo ~ The Wizard 🧙‍♂️
Long
by SmartWizardFX
BUY GBP VS JPY Triangle BreakoutThe GBP vs JPY pair on the M30 Timeframe presents a potential Buying oppurtunity due to a recent breakout from a triangle pattern This suggest a shift in momentum towards the upside and higher likehood of further advances in the coming the hour POSSIBLE LONG TRADE First Resistance 199 Second Resistance 200 Stoploss To manage risk place a stoploss order below support zone This helps limit potential losses if the price falls back unexpectedly Your likes and comments are incedibly motvitation and will encourage me to more analysis with you
Long
by GoldMarketKiller
GBPJPY | MONETARY POLICY |RATE CUTS AHEAD?|CONFUSED PRICE ACTIONGBP JPY LOOKS VERY CONFUSING TO ME but lets see what happens today fomc minutes gbp boe monitary policy There is a good chance that the Bank of England (BoE) could lower interest rates soon, with a cut widely anticipated in its next Monetary Policy Committee (MPC) meeting in November or December. However, the overall outlook on rate cuts remains mixed. Some analysts expect a cut as inflation rates have fallen from their highs, but recent fiscal policies, like the October budget, may temper any aggressive cuts due to potential inflationary effects. The BoE might proceed cautiously to balance inflation control with economic growth, and some experts even believe any cuts could be modest in the near term until inflation stabilizes further. Looking ahead, rates are expected to continue gradually lowering into 2025, but experts caution that the UK’s rates may not return to the extremely low levels seen pre-2020, as broader economic factors remain in play. For the November meeting, however, a rate cut of about 0.25% is currently expected, which could impact mortgage and borrowing rates accordingly. manage your risk be wise my analysis is not the holy grail , always do your research
by MSK-
Buy GBP/JPY Triangle BreakoutThe GBP/JPY pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 197.44 Target Levels: 1st Resistance – 199.20 2nd Resistance – 200.20 Stop-Loss: To manage risk, place a stop-loss order below Support Zone. This helps limit potential losses if the price falls back unexpectedly. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Long
by KABHI_TA_TRADING
11
BUY!!! GBPJPY HAS REACHED A WEEKLY INTEREST ZONEHELLO TRADERS I AM VERY INTERESTED IN BUYING THIS GBPJPY PAIR FOR THE NEXT SESSIONS LONDON AND NEW YORK FOLLOW MY ENTRY SIGNAL EVERYTHING POINTS TO THE PRICE GOING UP. TECHNICAL ANALYSIS CONFLUENCES AT THE MOMENT 1.- bullish weekly time frame 2.- bullish daily time frame 3.- rejection of the last weekly structure point 4.- rejection of weekly interest zone 5.- psychological number rejection 6.- weekly rejection candle 7.- rejection of the last daily structure point 6.- rejection of daily interest zone 8.- daily rejection candle 9.- rejection candle 4 Hr 10.- 1 Hr enveloping candle, 2 Hr enveloping candle why do I like it? The weekly and daily time frame are bullish, that is, they are in harmony, which indicates that the bullish trend has not yet ended. On the weekly time frame there are 2 weekly rejection candles. In turn, both candles being rejected in a weekly interest zone retesting above the weekly high. The psychological number 196,500 has been tested perfectly which has attracted buyers at this strong level. The price has been rejected at the highest high of the daily time frame, with a daily rejection candle. The price is being rejected in a daily interest zone that has been rejected repeatedly in the past. We have a very strong indecision candle in our area of ​​interest in the 4 Hr time frame which tells me of a change in the direction of the price towards the upside. And as the last confluence the structure in the 30 minute time frame has been broken. In all this, the only more reasonable thing is to look for purchases since the time frames are going up. If you liked my analysis, don't forget to follow me and like it, I will respond to comments and suggestions. Wait for new updates blessings and luck!!!
Long
by FxAlexisTrader
GBPJPY ANALYSISHere is our overall view on GBPJPY . After GBPJPY has made a pullback down to our PBA 1 (Pullback Area) , we are seeing more upside on the chart. At this moment we are still extremely bullish on GBPJPY. We are anticipating buys if we break above 199.180 . On the other hand, if we break 197.540 we could go back to our PBA 1 and if we break below, we could see even lower lows . As of now there is no clear indication for buys or sells. We are only entering in the trades if following has happened: Scenario 1 : breaks above 199.180 Scenario 2 : breaks below 197.540 We will be patiently waiting on breaks of our mentioned levels and we will post an update accordingly. KEY NOTES - GBPJPY has made a pullback to our PBA 1. - Break below 197.540 would confirm sells down to our PBA 1 around (195.800). - Break above our KL (199.180) would result in higher highs and confirm buys. - No trade opportunity now, breaks should be waited on. Happy trading! FxPocket
by FxPocket