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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY Will Move Lower! Sell! Here is our detailed technical review for GBPJPY. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 187.889. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 186.021 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
GBPJPY long term sellAfter a year of massive gains I am expecting a major correction in the market, a possible market crash GBPJPY has currently formed a double bottom on the 23% Fibonacci level - Expecting a retracement (LONG positions) towards the 50% FIB level -if price closes above 50% FIB level expect a retest of the psychological zone 200.00 -once prices reach that level expect an immediate impulse towards the downside - but if not short until 169 as identified on the levels on the chart currently it is bullish
Short
by Ballers1408
GBP/JPY Res Test - 23.6 of the Sell-OffWhile the world waits for the Fed to kick off their cutting cycle, there's been some very strong moves showing in Yen-pairs. GBP/JPY remains especially elevated on a longer-term basis and the Bank of England hasn't exactly been hawkish of late. There was a 2,800 pip sell-off in July-August and the bounce from that was intense, even if it couldn't quite make it to the 50% retracement level. Bears took over again shortly after the September open but started to stall a little under 1,000 pips below that prior high with yesterday's low falling just five pips shy of the 183.72 swing. At this point there's a resistance test at the 23.6% retracement of the July-August sell-off. I've spanned that up to a zone that runs as high as 187.96. If we do see Yen-strength come back after the Fed tomorrow, which I think would need to come along with a dovish FOMC outing, which could be accomplished with a 50 bp cut combined with a dovish dot plot matrix, then we could see bears taking over again. But if we see a bit of prudence from the FOMC and a continued bounce in USD/JPY, the door is open for re-test of the 190.00 handle in the GBP/JPY cross-pair. The 38.2% retracement of the sell-off plots 91 pips higher and this sets up a spot of resistance taken from prior support. - js
by FOREXcom
GBPJPY Weekly Chart: A Strong Support Zone in PlayIn the world of forex trading, the GBPJPY pair has been a fascinating one to watch. Over the past four years, we’ve seen significant price movements, but one thing has remained consistent: the trendline drawn from the lowest price points on the weekly chart. This trendline has acted as a robust support level, and it appears that we might see it come into play once again. Chart Analysis: The weekly chart of GBPJPY shows a clear trendline connecting the lowest price points over the last four years. This trendline has been respected multiple times, indicating its strength as a support level. Currently, the price is approaching this trendline, and traders are watching closely to see if it will act as support once again. Key Observations: Historical Support: The trendline has provided support on several occasions, leading to significant price bounces. Current Price Action: The price is nearing the trendline, suggesting a potential bounce if the trendline holds. Volume Analysis: Recent volume bars show increased trading activity, indicating heightened interest as the price approaches this key level. Trading Strategy: For traders looking to capitalize on this potential support zone, it might be wise to wait for confirmation of a bounce before entering a long position. This could be in the form of a bullish candlestick pattern or a significant increase in buying volume. Conclusion: The GBPJPY weekly chart is presenting a compelling case for a potential bounce off a well-respected trendline. As always, traders should use proper risk management and wait for confirmation before making any trading decisions.
by stocktechbot
GBPJPY Will Go Up! Buy! Take a look at our analysis for GBPJPY. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 184.411. The above observations make me that the market will inevitably achieve 185.422 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPJPY Moving Up#trading_idea 💡 #GBPJPY - Watch Resistance On the hourly chart, we can see the price testing the key level of 186. There is a ascending triangle pattern indicating a possible move upwards. The MACD and Bulls&Bears both suggests potential growth, besides pair is trading above MA(100). Possible scenarios: 🔼If the prise break through 186.00 resistance we may see the rise towards 186.800. 🔽Otherwise, a slide towards 185 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 Breaknig Resistance#trading_idea 💡 #GBPJPY - Watch Resistance On the hourly chart, we can see the price testing the key level of 186. There is a ascending triangle pattern indicating a possible move upwards. The MACD and Bulls&Bears both suggests potential growth, besides pair is trading above MA(100). Possible scenarios: 🔼If the prise break through 186.00 resistance we may see the rise towards 186.800. 🔽Otherwise, a slide towards 185 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