GBP/JPY 15-Min: Resistance Break Imminent on Economic News GBPGPY at channel resistance! But due to this morning economical growth data, a break up might push the price even lower ! So watch closely for potential downward moves!
JPYGBP trade ideas
LONG GBPJPYTechnically
the pair is showing the bullishness.
In the few days past, it has shown the corrective move.
Yesterday, it completed the ABCDE pattern and it broke to the upward by breaking the Highs in the 1H timeframe.
I expect the previous highs to be broken and shoting to the almost highs.
Fundamentally;
GDP DATA
#goodstrade balance non EU 4.950B to 5.0B
#goodstrade balance sep15.06B to16.2B
#GDB mon sep 0.2% to 0.2 (unchanged)
#GDBgrowth rate 0.7% to 1.0%
Educational comment
If the data expected will be as it is, the GBP will remain bullish.
GBPJPY, down to complete C leg?Based on my point of view, GBPJPY already hit my "Daily main point", should be retraced back to neutral. Follow Daily AO (indicator), it shows AO block is slowing back to zero line and I think it is best time to sell it.
But keep an eye on the other direction, It may run fast for one more up trend before it drop. Let play safe.
GBPJPY Is Approaching The Main Trend.Hey Traders, in today's trading session we are monitoring GBPJPY for a buying opportunity around 196.500 zone, GBPJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 196.500 support and resistance area.
Trade safe, Joe.
GBPJPY WILL MOVE LOWER SHORTHere is our detailed technical review for GBPJPY.
The price is testing a key resistance 197.995.
Taking into consideration the current market trend and overbought RSI,chances will be high to see bearish movement to the downside at least to 193.732 level.
POTENTIAL SHORTS on GJkey level has been respected and seeing a rejection which will more likely trigger sellers to short
GBP/JPY Set for Dramatic MovementsAt Vital Direction, we have conducted an in-depth analysis of GBP/JPY. Since December 2023, GBP/JPY surged in five clear impulsive waves, reaching a pivotal high around 208 yen by July 2024. This level marked a significant turning point, leading to an impulsive downward wave A, followed by a complex corrective phase structured as a WXY pattern.
We currently estimate that the Y wave is either complete or nearing completion with a potential top around 202 yen. This would set the stage for a wave C decline, potentially targeting the 174 yen area by February 2025.
This projection aligns with broader cyclical patterns, suggesting that GBP/JPY may find a significant bottom following this correction, presenting a possible bullish reversal opportunity thereafter.
GBPJPY Massive Long! BUY!
My dear friends,
Please, find my technical outlook for GBPJPY below:
The price is coiling around a solid key level - 197.38
Bias - Bullish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 198.07
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
GBP/JPY H1 Chart Breakdown Elliott Wave Structure:
The chart appears to be within an Elliott Wave pattern, specifically focusing on the 5th wave.
Wave 5 is nearing completion and has projected targets around 196.139. The invalidation level for this wave is located at 196.671—if price moves beyond this, it will invalidate the current wave count.
Break of Structure (BOS):
A Break of Structure (BOS) is noted on the internal high. This indicates a shift in price momentum from bearish to bullish.
After the bullish movement broke the structure, price retraced and created a correction phase.
Fibonacci Retracement Levels:
The retracement after the bullish push aligns with Fibonacci levels:
0.236 level at 195.517
0.382 level at 195.192
These levels are crucial as they indicate where the price could react, showing potential areas for entries if a bounce occurs.
The equilibrium level (50% Fib) is located at 194.915, which often acts as a magnet for price in corrective phases.
Order Blocks:
A bullish order block sits below 195.192, signaling a key demand area. If the price retraces to this level, we can expect a possible bullish continuation from this discounted zone.
Short-term Outlook:
A retracement toward 195.192–194.915 is anticipated before a possible bullish continuation.
Price should not break below 193.687, which is a key invalidation zone for the bullish scenario.
GBPJPYGBPJPY . Potential long opportunity.
Yesterday we have called buys during Asian Session . We are now waiting on a clear break of our KL (Key Level) 198.360 for potential buys . We are still extremely bullish on GBPJPY . Our main target now is to break 199.800 which would confirm our continuation buys. BoJ (Bank of Japan) still can’t risk to raise their interest rates aggressively due to the downside risk on their stock market.
KEY NOTES
- GBPJPY has broken below our KL (Key Level) 198.360.
- Targeting 199.800 break for continuation buys.
- BoJ (Bank of Japan) still can’t risk to raise their interest rates aggressively due to the downside risk on their stock market.
Happy trading!
FxPocket
GBPJPY MAP FOR TODAYGBPJPY MAP FOR TODAY
Daily candle closed bullish, and we’re eyeing the pullback:
Buy Zone:
• Targeting H4 breakout, H1 RBS, and lower timeframe for continuation buy setups.
Momentum’s with us, so let’s stay locked in and ready to grab those pips. Today’s all about precision and execution! Let’s go, team! 🚀💥
GBPJPY possible short position swing.The recent increase in the UK's unemployment rate to 4.3%
has raised concerns about the British economy's health. This uptick suggests potential economic challenges, which could weaken the British Pound (GBP). In the GBP/JPY currency pair, a weaker GBP against the Japanese Yen (JPY) may present a bearish trading opportunity. Traders might consider monitoring this pair for potential sell signals, especially if technical indicators align with the fundamental data.
1:3 ratio
GBPJPY - ABC DONEever the indicator said (this pair is strong bull)
but i do a speculation that the bullish trend already done enough.
abc correction has done
mean : GJ will bearish soon
disclaimer
this is not a signal
be carefull
be safe
be smart
thanks
GBPJPYGBPJPY pair, possible market reaction.. We are going for that weekly AOL, and due to Agglomeration 4, thats why we are trading against the trend
GBPJPY has broken down out of a triangle. Intraday Update: The GBPJPY has broken triangle support and looks like any move back above the 196.00 may offer a good level to be short to target back to the 192.00 level in the week(s) ahead.
GBPJPY: Long Trading Opportunity
GBPJPY
- Classic bullish formation
- Our team expects growth
SUGGESTED TRADE:
Swing Trade
Buy GBPJPY
Entry Level - 196.55
Sl - 195.88
Tp - 197.81
Our Risk - 1%
Start protection of your profits from lower levels
❤️ Please, support our work with like & comment! ❤️
GBPJPY Ready to sellGBPJPY Sell Pattern, potential ABC pattern.
Good Luck
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Bearish drop?GBP/JPY is rising towards the pivot which has been identified as an overlap resistance and could drop to the 1st support which acts as a pullback support.
Pivot: 198.26
1st Support: 196.76
1st Resistance: 196.61
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GBPJPY: Bullish Divergence on SupportGBPJPY is currently holding support at key levels and has formed a bullish divergence on the 30-minute chart, indicating potential upward momentum.
GBPJPY-BULLISH IDEAGBPJPY is in strong bull run as it has bounced from the strong trendline took the support and broke out from falling wedge
GBPJPY OPEN TRADE - HALF CLOSEDExecute the price at the exact price mentioned, NO FOMO.
💡KEEP IN MIND💡
I am not a financial advisor and do not contribute to any of your losses or profits. To be safe, I recommend that you risk only 0.1 - 0.2% for the first week or 10 days, as no one can predict the market.
🚀Follow, I will drop daily 2-5 Intraday Charts🚀
GBPJPY remains in an uptrend above 196.63GBPJPY remains in an uptrend above 196.63, with the next resistance levels and potential targets for bullish traders at 197.96 (Thursday's high) and 198.43 (Monday's high). However, if the price falls below the trend-defining level at 196.63, a swift drop to the psychological level of 196 is likely.
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