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Gbpjpyanalysis

GBP/JPY continues to trade in a volatile rangeHere is my analysis of the GBP/JPY for the upcoming week: - Applying the Quarters Theory, we have the major 189 and 191 levels, along with the half-figure of 190.50 and quarter points of 189.75, 190.25 and 190.75 to watch. Last week, 190.25 provided initial support on the pullback before lower demand emerged at 189.75. Meanwhile, the test of 191 was rejected and this area is likely to remain stubborn resistance. Heading into this week, pay attention to whether the bulls can catalyze a convincing break above 190.75 and push towards 191 again. If selling pressure persists around 190.75, we could see another leg down to retest 189.75. Traders will be watching the quarter points for signals if directional conviction strengthens. A daily close above 190.75 would indicate upside momentum is accelerating for a potential run towards 191. (edited)
by PiPNEVERSLEEPS
GBPJPY 1.04% Return Trade ClosedGood Morning guys, I just not to long ago closed this buy on GBPJPY - I Took the trade yesterday evening and held it (during the Asian session overnight) I just woke up Let me explain why I took this trade These are my confirmations\questions > Question 1 - Was GBPJPY in momentum (bullish or bearish)? Yes, GBPJPY was in bullish Momentum at the time of me looking at it Question 2 - Who was interested (at that time)? Buyers were interested at that time Question 3 - Where were their stop losses? Stop losses would have been right below the highlighted levels (purple circles) & below the purple horizontal line (break out buyers) Question 4 - Have those stop losses been taken out? Yes I believe Stop losses would have been taken out already on GBPJPY (Red X) Question 5 - Did the set up make sense for me to pursue? Yes I believe it made sense for me to pursue this trade given the information I had When I woke up GBPJPY had a moved a massive 1:7.55 RRR, considering the fact that I risked 0.25% on this trade that would have meant had I closed at that RRR I would have taken home about 1.88% on this trade BUT, as you can see where I closed it, GJ had already pulled back a significant degree and in fear of it pulling back more and taking away more profit from me, I decided to close it (plus I'm going to be really busy today so I don't have the time to actively trail my stop as it goes further (which I do believe it can) My broker also shows a gap (I use ICM, whereas FXCM (tradingview) does not show a gap, which means manipulation is occurring somewhere in this area I closed the trade at 1.04% Return, doesn't sound like much but do the math on it from a much bigger account and tell me if you think it is worth it Plus I literally have been having an excellent week where I haven't lost any trades for the week, I'm on fire this week, let's see if I can keep it up I have many more confirmations I look for, this is just to simplify it so that I can quickly explain to you the reader Downvote\don't Boost if you didn't read this post and didn't try to understand OR Upvote\Boost if you did read this post and did try to understand *Why don't I show my lot size?* *How much money I make is no where near as important as HOW I took the trade*
Long
by Brandon_evo4
GBPJPY Long Term Buying Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Short
by ForexPlanet20
1
GBP/JPY Sell idea from the resistance LevelGBPJPY's strong uptrend has run into a roadblock recently. The level of 190 is proving to be a hard nut to crack for the GJ bulls. Technically, the price has reached the top of the price channel in the GBP/JPY daily chart. Fundamentally, with the interest rates in Japan being so low compared to Britain, the Japanese Yen is inherently weak against the British Pound. So, this needs to be kept in mind too. That being said, if there is bearishness around the 190 level, there is potential to sell GJ@189.50-190 with Stop Loss above 190 and TPs at 187.185 and 181 respectively.
Short
by KaltoireCapital
GBPJPY I Potential intraday long from support Welcome back! Let me know your thoughts in the comments! ** GBPJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
5
GBP/JPY at Crossroads: BoJ Meeting and Economic PressuresGBP/JPY at Crossroads: BoJ Meeting and Economic Pressures The GBP/JPY pair finds itself in a state of indecision as it hovers within the confines of Friday's trading range. With support around the 179.000 area and resistance at 189.000, market participants are closely monitoring the reaction of the market after the monetary policy meeting by the Bank of Japan (BoJ). After the BOJ Meeting,Today, the Bank of Japan opted to retain its ultra-easy monetary policies, indicating a willingness to observe whether wage hikes will sufficiently contribute to sustaining inflation at the 2% target. While maintaining a cautious stance, the central bank expressed increasing confidence that conditions conducive to phasing out its substantial stimulus measures were slowly aligning, noting a gradual rise in the likelihood of the economy achieving lasting 2% inflation. BoJ Meeting Anticipation: Investors are gearing up for potential market shifts as they await the outcome of the BoJ meeting. The recent challenges faced by the Japanese economy, including slower wage growth and a New Year's Day earthquake, have cast a shadow on its overall economic outlook. These factors provide a compelling case for BoJ policymakers to consider maintaining an expansionary monetary policy stance. Market consensus suggests that there will likely be no adjustments to the Yield Curve Control (YCC), and the easy monetary policy is expected to remain unchanged. Inflation Concerns in Japan: Despite consistent underlying inflation in the Japanese economy surpassing 2%, BoJ policymakers remain cautious about the sustainability of inflation above the 2% target. The limited contribution from the labor cost index has left policymakers unconvinced about the persistence of inflationary pressures. UK Economic Worries: On the other side of the trade, the Pound Sterling faces its own set of challenges. Concerns about a potential technical recession in the United Kingdom have heightened as households grapple with the impact of higher interest rates set by the Bank of England (BoE) and persistent inflationary pressures. These economic hurdles contribute to the uncertainty surrounding the GBP/JPY pair. Technical Analysis: From a technical perspective, the price action illustrates a ranging market or channel. The pair oscillates between support and resistance levels, currently trading around 188.12 with a red candle at the time of writing this article. This range-bound behavior suggests a cyclical pattern of rebounding from support to resistance and vice versa. Trading Strategy: With the price testing the upper end of the channel, traders may consider a cautious approach. A potential trading setup involves watching for another rejection at the resistance zone of 189.000, anticipating a move towards the lower side of the channel. As always, risk management and a thorough analysis of market conditions should guide trading decisions. Conclusion: As the GBP/JPY pair grapples with uncertainties after the BoJ meeting and economic challenges in both Japan and the UK, traders are advised to stay vigilant. The monetary policy decisions from the BoJ will likely play a crucial role in determining the pair's direction. A prudent approach, considering technical and fundamental factors, will be essential to navigate the complexities of the current market environment. Our preference Short positions Below the 191.000 with targets at 185.000 & 180.000 in extension.
Short
by FOREXN1
11
GBP/JPY SELL from 1.9364GBP has been weak since late yesterday and has steadily sold off and this sell off has been accelerated by the CPI miss this morning at 07:00 where the expected CPI reading of 4.1% missed by .1%. GBP has sold off aggresively since and there no sign that this sell off has finished. I'm SHORT GBP/JPY where price is breaking down support at 188.94. There's quite a decent amount of support under the current price coming in at 188.68 which is the 100 EMA on H1 and WPP mid pivot. If price can break through these levels we should be good to reach 188.14 which is the 200 EMA on H1. The Andean Oscillator is adding weight to the analysis as we can see the red SELL line is advancing and coming to meet the signal line. There is a potential market mover at 15:00 BOE Governor Bailey is on his feet. STOP for this trade is tight at 189.14.
Short
by forextraplaces
GBPJPY Technical Analysis and Trade IdeaGBP/JPY has encountered a significant resistance level on the monthly timeframe. This level has demonstrated a strong history of price rejection. Furthermore, the pair's overextended state, following a sustained bullish run, signals a potential retracement. Trade Strategy: A retracement to the 61.8% Fibonacci level on the 1D could present an optimal entry point for a buy position. Seek confirmation of this setup from a daily timeframe price swing aligning with the Fibonacci level. Implement a stop-loss order below the previous swing low, maintaining a minimum risk-reward ratio of 1:2. Disclaimer: This analysis is for informational purposes and not financial advice. Always conduct your own research and risk assessment before trading.
Long
by fxtraderanthony
GBPJPY H1 / POSSIBLE BREACH OF THE STRUCTURE 📉Hello Traders! This is my idea related to GBPJPY H1. I expect a retracement after GJ will set a new BOSS. If confirmed, I will set two Take Profit levels. The first one is at the FVG H1, where is also the FIBO 50%. The second TP I will set at the BOSS level. I'm very curious about next week's move on GJ. Keep in touch! Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
Short
by GoodTradeST
2