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British Pound / Japanese Yen

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GBPJPY trade ideas

GBPJPY: Potential for Further Rise Amid BOJ UncertaintiesGBPJPY: Potential for Further Rise Amid BOJ Uncertainties Bank of Japan Governor Kazuo Ueda stated that the economy is making progress toward achieving sustained wage-driven inflation, but provided few clues on whether the central bank might raise interest rates next month. The market remains uncertain about a potential rate hike, as the BOJ has not yet altered its Monetary Policy statement, leaving the JPY vulnerable to market speculation. Although the JPY is not in the same situation as it was a few months ago, the significant difference in interest rates compared to other countries remains a strong reason for its continued weakness. Technical Analysis: GBPJPY completed a bullish harmonic pattern at 194.30. The initial price reaction was a clear push of nearly +100 pips. Following this brief pause, GBPJPY is expected to rise again. While it is somewhat risky, this projection aligns with fundamental analysis. GBPJPY may reach the first two targets this week. Targets: 🎯 196.30 🎯 196.85 🎯 197.50 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
5
GBPJPY FORECASTIn this analyze we are focusing on 30M time frame chart for GBP/JPY. On the basis of support and resistance along with price action and liquidity concept. So we will wait for price when price enter into our zone than after any bullish confirmation we will take our long position trade. Let's delve deeper into these levels and potential outcomes. Always use stoploss for your trade. Always use proper money management and proper risk to reward ratio. This is just my analysis or prediction. #GBPJPY 30M Technical Analyze Expected Move.
Long
by TradeTacticsreal
3
Trade explanation and more downside expectedHi traders, welcome to this trade breakdown. Its situation has played out and I traded with decent gains. I'm still in the position and I expect more downside coming however my TP is in the 50% of the CLS range. The goal of this post is to show you briefly my unique method of reading the market by understanding CLS. Let's put it all together 🧩 Follow me I will be posting more educational posts like this one and don't hesitate to ask with any questions in the comment. 📍HTF Level - Weekly breaker / FVG 📍Range created, 2nd candle manipulated to the HTF level and closed inside the range. 📍The third weekly candle retested the 50% of the wick there I entered at 199.148 - the candle closed inside the range which is another confirmation. 📍4th week opened and retested the range with manipulation above the Asia session. At this moment, I took partial profit and SL is on the break even. 📍 HTF view What is CLS? You may never hear about them. Just find out about them on Google or their website. This company is trading for the biggest investment banks and central banks. They trade over 6.5 trillion daily volume. They are simply market maker. I hope this educational post helps you at least briefly understand my method. Dave FX Hunter
Education
by Dave-Hunter
13
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.
Long
by BoaNergeTrading
3
GBP/JPY Approaching Key Channel Support: Potential for Downside **GBP/JPY Technical Outlook: Bearish Signs Building as Price Approaches Critical Channel Support and Triangle Pattern Tightens** The recent movement in GBP/JPY has played out precisely as anticipated, with the price reaching my previous target. As the pair now approaches a critical junction, it’s beginning to display several bearish technical patterns that could hint at an impending trend reversal. At this stage, GBP/JPY is forming a triangular consolidation within an upward channel, testing the strength of the channel's lower boundary. This pattern is particularly important, as a decisive break and close below the channel would signal that selling momentum may be taking over, potentially altering the broader trend. ### Triangle Pattern and Lower Channel Boundary The triangle pattern currently taking shape suggests that GBP/JPY is undergoing a phase of consolidation, a period in which buyers and sellers are in temporary balance. However, with the price hovering near the lower boundary of the channel, this balance may soon tip in favor of the sellers. A breakdown below this channel would be highly significant, potentially confirming a shift in the prevailing upward trend and opening the door to lower price levels. ### Daily Timeframe: Double Top and Lower Highs Zooming into the daily timeframe reveals even more compelling evidence of weakening bullish momentum. GBP/JPY has formed a notable double top pattern, a formation known for signaling bearish reversals. The double top suggests that the buying strength encountered substantial resistance near recent highs, leading to a rejection. This pattern often serves as a precursor to a bearish move, as it shows that the upward push is running out of steam. In addition to the double top, GBP/JPY is also forming a series of lower highs, which reflects an increase in selling pressure. This sequence of lower highs implies that buyers are struggling to maintain the price at elevated levels, allowing sellers to gradually take control. Such patterns often indicate that the market’s sentiment is shifting, with sellers gaining confidence while buyers lose momentum. ### Potential Bearish Continuation and Support Zone Target If GBP/JPY breaks down from the triangle pattern and exits the channel, the bearish momentum could accelerate significantly. The key support zone around 195.570 stands out as a potential target for this move. This level has historical significance, serving as a support in previous downtrends, and could act as a point of interest for buyers once again. However, if the selling pressure remains strong, GBP/JPY may even extend beyond this zone, leading to a deeper correction. ### Summary In summary, GBP/JPY is at a critical inflection point, with bearish patterns accumulating across multiple timeframes. The triangle pattern within the channel, coupled with the double top and lower highs on the daily chart, suggests that downside risks are mounting. A confirmed break below the lower channel boundary could trigger a strong bearish continuation, with the initial target around the 195.570 support zone. As the price approaches this crucial support, it will be essential to monitor for signs of renewed buying interest or potential further declines.
Short
by lonelyPlayer0
6
ICT Long Setup GBPJPY👋Hello Traders, Our 🖥️ AI system detected that there is an H4 or higher timeframe ICT Long setup in GBPJPY for session trade (a couple of days) Here is a session trade idea (since it is near support surface, we should use small lot size) Please refer to the details Stop loss, Buy Zone,open for take profit. Next Long entry after retracement in any session. For more ideas, you are welcome to visit our profile in tradingview. Have a good day! Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
Long
by ICT_Trader_SB
1
Trade Recap: GBPJPY - SHORT, 19/11/2024GJ Bias Analysis: Price, still trading at a 1D premium, the pro-trend had been established on the 4H timeframe and short entries were in line with the bearish 1H range. Equilibrium was achieved relative to the minor swing after price protracted higher and a short entry executed after entry confirmation was received. Grade: High Risk What I did well or could've done better: - I was too risk averse when using discretion in the management of this position, which led to being stopped out at BE before an aggressive sell off to TP.
Short
by The_Modern_Day_Trader
1
Lingrid | GBPJPY Potential Channel BREAKOUT. ShortThe price perfectly fulfilled my last idea. It reached target level. FX:GBPJPY is currently forming a triangle pattern and is testing the lower border of the upward channel. There is a potential for the price to break and close below this channel, which could indicate a shift in trend. On the daily timeframe, the formation of a double top pattern is notable, as this pattern often precedes a bearish move. Additionally, the price is showing lower highs, which indicates increasing selling pressure in the market. If these bearish signals continue to develop, it could lead to a significant downward move. My goal is support zone around 195.570 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
12
Buy OpportunityKey Levels: Support Zone: Around 194.292 and below, near 193.708. Resistance Levels: Intermediate: 195.562 Final Target: 198.446 Strong support at 191.875, as indicated by the historical low. Signal: The setup indicates a buy signal with an expected move to 198.446, representing a 2.09% potential gain. Indicators: Squeeze Momentum Indicator (SQZMOM): Bearish pressure appears to be decreasing as the red histogram transitions to green, indicating a potential bullish reversal. Volume Profile: The high liquidity zones around the current price area suggest that the price may bounce off this support. Risk-Reward: Entry: Around 194.375. Stop-Loss: Below 193.131, to account for false breakouts. Take-Profit Levels: Partial profits at 195.562 and final profits at 198.446.
Long
by GODOCM
1