GBPJPY BuyAs we all know that the economic condition of Japan is not fine, and they are also facing natural disasters. I still believe that Yen will remain weak in coming week. Better to look buying opportunities on such pairs which have YEN.
Gbpjpyforecast
GBPJPY: GBP/JPY trades with negative bias near weekly low, manages to hold above 184.00 mark
The GBP/JPY pair is experiencing a slight downward trend for the second consecutive day on Friday and remains near the lower end of its weekly range during the Asian session. However, spot prices are able to stay above the 184.00 level, which should make aggressive bearish traders cautious and prepare for any potential further decline in value.
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
GBPJPY BUYGBPJPY is making bullish moves. Hopefully price will hit the retesting zone and continue its moves of HHs and HLs.
GBPJPY the monthly :
price is fully bullish, we can see that it broke the strong supply and demand zone.
weekly;
price broke and retraced to the broken supply and demand zone, there are two candles rejecting the zone so I'm expecting a retracement to the downside and then a bullish continuation.
daily;
The trend is fully bullish there is also a high momentum and we also have the SMA's confirmation of a strong bullish trend, so I'm only looking for buys
4h;
There is a probability of price retracing then continuing the bullish trend or breaking and retesting the zone either way ill be looking for a long trade after seeing some shrinking candles on the zone with some rejections and a hammer candle as a confirmation to look for my entry on the lower timeframe
RM;
sl; below the rejections
tp; next s/d zone
R; 3:1 minimum
GBP/JPY's 30-Minute Support and ResistanceIn the intricate realm of forex trading, precision is paramount. Each level, each movement holds a crucial piece of the puzzle. Let's delve into the technical intricacies shaping the journey of the GBP/JPY pair within the 30-minute timeframe.
Finding Ground: Dual Support Levels
Amid these critical minutes, GBP/JPY locates its footing with not one, but two support levels:
Primary Support - 183.706: This serves as the initial anchor for the pair, providing a foundation that potential rebounds and recoveries can build upon.
Secondary Support - 183.300: A backup in case the pair faces increased pressure, this level bolsters its potential to resist further downward movement.
Conquering Challenges: Resistance Unveiled
However, the path forward is punctuated with challenges. The pair encounters a single resistance point, serving as a barrier that demands an earnest effort to overcome:
Resistance 1 at 184.790: This pivotal point marks the primary hurdle for GBP/JPY's upward ascent. A successful breach could signal a shift in market sentiment, opening doors for potential further gains.
Insights to Navigate: Charting the Course
For traders and keen observers, the interactions between GBP/JPY and these support and resistance levels are a treasure trove of insights. Each movement, each break, holds significant clues about the prevailing market sentiment.
The dual supports at 183.706 and 183.300 create a resilient platform, offering opportunities for potential recoveries. Yet, the challenge presented by the resistance at 184.790 underscores the need for a concerted effort to drive the pair upward.
As time ticks within this 30-minute span, the movements of GBP/JPY unfold like a compelling narrative. The interplay between support and resistance, between the ambitions of buyers and the strategies of sellers, forms a dynamic storyline that traders keenly follow, seeking to uncover the short-term trajectory of this captivating currency pair.
GBPJPY Analysis 27Aug2023after the price breaks the HH, a correction occurs with the price breaking the trendline (dotted blue line) and forming a new LL, most likely it will continue its bearish trend. the bearish trend here is a correction trend, we can expect the price to reach fibo 0.236
GBPJPY: Today!The GBP/JPY cross posts modest gains but remains below the 184.00 barriers during the early Asian session on Friday. The cross currently trades around 183.85, gaining 0.07% on the day following the release of Japanese inflation data.
The Statistics Bureau of Japan reported on Friday that the Tokyo Consumer Price Index (CPI) for August, fell to 2.9% YoY from 3.2% in the previous month, against 3.0% market predictions, while the Tokyo CPI ex Fresh Food and Energy remained stable at 4.0% YoY.
GBPJPY: Breaking the uptrend, the downtrend begins to form!GBP/JPY marked an all-time high at 186.77 in the early trading hours of the Asian session on Tuesday. Spot price is trading around 186.50 at the time of writing. The pair retreats from the all-time high as it appeared to be a barrier. A break above that level could help the GBP/JPY pair to explore higher highs around the 187.00 psychological level.
GBPJPY Analysis H1Here is my analysis for GBPJPY on H1 using Order Block. The price could go bullish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
GBPJPY Short Term Sell IdeaD1 - Bearish divergence.
No opposite signs.
Expecting short term bearish moves to happen here.
H4 - Price has reached a key resistance zone.
Bearish divergence.
A valid breakout below the low at 184.545 would be the validation for this short term bearish view.
GBPJPY next possible moveGBPJPY running with as ascending triangle channel with a range, overall bias looking short if it breaking 185 and retesting from 184.59 to 185.12 then go for short. In case if it braking 185.30 and retseting from 185.65 to 185.30 then go for long.
GBPJPY Analysis 20Aug2023wave 3 ends at the fibo extension of 1.618 and currently the price is forming wave 5. which at the end of this weekends at the fibo extension of 0.382. if you see the trend movement that is happening, there is a possibility that there is still a continuance of the bullish trend towards the 0.618 fibo extension which also intersects with the 2.618 fibo extension
GBPJPY Long Bullish potentially upside to 209 YenGBP/JPY
inflation
Yields
In my previouse analysis(Click onthe chart, and read it, I mentioned I am forecasting GBPJPY Rising high what already happened...
GBPJPY RISING HIGHER ON MORE BUYING PRESSURE
LONG
GBP/JPY: On the way toward the 2015 high
GBP/JPY’s break above the October high of around 172.00 has opened the door toward the 2015 high of 196.00 in the coming weeks/months. In the near term, however, the cross looks a bit overbought. Hence some sort of consolidation/minor retreat can’t be ruled out. The broader upward pressure is unlikely to fade away while the cross holds above the 89-day moving average
The Bulls took control to buy GBP at 136.50 from there the market excessively made Higher Highs and Higher Lows.
The best is that all this mechanism has been confirmed,one after each other.
Look on the chart above: i HAVE MARKED SOME PHASES OF THE MARKET with yellow cirlcles:
The circles are on the lows (Bar chart) and on the lows of RSI(below).
Ususually the momentum oscillators follow the market´s motion, meaning if the market makes higher highs and higher lows, the RSI rises and follows, and vice versa.
On the ba chart the market makes higher highs and higher lows, but on the maked position(See RSI) the RSI suddenly makes lower lows,and breaks down the previouse low.
This is a powerfull indication that the bull trend is active,better:RSI lower lows represent and confrim that the trend will continue.
Currently the price is at 179,084whil GBPYEN is correcting, but even if the market comes down(in worse case to 155(unlesse it does not break 147, the trend is bullish...
This are marvellouse situations, where we can time our buying positions.
The corrections are just the results of some profit takings, but most importantly the buyers will distibute their buy positions and maintain the supports more stronger.
For instance as the market came down to 147 the buyers baught massively GBP and very agressively. So they will also defend this zone very agressively and powerfull in the future.
The resistance at around 184 will be very weak, as now more buying deltas and volume are shifting higher.
So we have higher highs and higher lows, we have rising POCs, we have shifting volme higher, we have rising supports, and they all are at the previouse pocs.
My further forecast is: If GBP breaks fast 184, we will go to 194,55 and then to 209,582.
If the market comes down, we will find triple supports at 162.170 and 173. From here we can time to buy the dips.
Below 147 GBP will lose value vs Yen and will go to 135,132,125,120. Fundamentally GBP and majors, but also other currencies are gaining weight vs Yen.
The British pound initially tried to rally a trading session on Tuesday, but then gave back gains to show signs of weakness. All things being equal, it looks like the ¥180 level continues to offer support.
The British pound has initially tried to rally during the trading session on Tuesday, but gave back gains almost immediately to slam into the ¥180 level. However, the market has turned around to show signs of support yet again, and now it seems like we are just slamming around. With this being the case, it will be interesting to see how this plays out, but I do think that we have the potential for some type of explosive move. Keep in mind that the Bank of Japan is the most dovish central bank out of all of the major powers, so that does continue to put a lot of negativity into the Japanese yen.
Furthermore, we are in a massive bullish run, and I think that continues to be a situation where you cannot fight the momentum. All things being equal, this is a market that I think continues to see a lot of noisy behavior, but I would be a buyer of dips as they offer value. Another thing that helps the market rally at this point is the fact that the British pound has been very strong for a while, and inflation in the United Kingdom continues to see a lot of pressure, therefore it looks like the Bank of England will continue to be very hawkish.
All things being equal, I think this continues to be a “buy on the dips” scenario, and the situation continues to be one that you will have to be cautious. After all, the volatility will be a major issue that you will have to deal with, with the ¥184 level as an area that has been massive resistance, and then the ¥185 level would be the next target. All things being equal, I do think that we see a lot of noise, so therefore keep your position size reasonable but I still favor the overall upside, as the market will continue to see plenty of upward pressure, due to the fact that the situation continues to be one that the buyers certainly have control over the longer-term, but it also continues to be more noise than anything else.
Fundamentals
GBP/JPY takes offers to refresh intraday low down for the third consecutive day.
UK CPI pushes back hawkish BoE bias by falling to 7.9% YoY in June.
Dovish comments from BoJ’s Ueda, market’s cautious optimism previously favored GBP/JPY bulls.
Risk catalysts, Japan inflation will be crucial to watch for clear directions.
GBP/JPY reverses the day-start recovery towards refreshing the intraday trough to around 180.80 amid early Wednesday morning in London, justifying the unwelcome prints of the UK inflation. Adding strength to the downside bias are the weaker Treasury bond yields. However, the market’s cautious optimism and dovish bias surrounding the Bank of Japan (BoJ) prod the cross-currency sellers of late.
UK inflation per the Consumer Price Index (CPI) slides to 7.9% YoY in June versus 8.2% expected and 8.7% prior. More importantly, the Core CPI defies the 7.1% market forecast and previous readings by declining to with 6.9% YoY figures for the said month.
With this, the hawkish bias about the Bank of England (BoE) remains doubtful and drowns the GBP/JPY during the three-day losing streak.
On the other hand, Bank of Japan (BOJ) Governor Kazuo Ueda spoke at a news conference after the G20 meeting in India on Tuesday while stating that there was still some distance to sustainably achieve the 2% inflation target, defending the easy-money policy in turn.
It’s worth noting that fears surrounding Japan Prime Minister (PM) Fumio Kishida’s cabinet reshuffle and pessimism among the big industrial houses from Tokyo weigh on the Japanese Yen (JPY) and challenge the GBP/JPY bears.
Elsewhere, the market sentiment remains cautiously optimistic amid the upbeat performance of the equities backed by the positive mood at the banks, as well as China headlines, which in turn puts a floor under the GBP/JPY prices.
While portraying the mood, Japan’s Nikkei 225 rises more than 1.0% and the S&P500 Futures remain sidelined at the yearly high. However, the US 10-year and two-year Treasury bond yields stay pressured at 3.76% and 4.74% by the press time and prod the GBP/JPY bulls of late.
Having witnessed the initial market reaction to the UK inflation data, the GBP/JPY pair traders should watch the risk catalysts ahead of Friday’s Japan inflation statistics and British Retail Sales.
However, aggressive tightening could dent prospects for next year, raising the risk of a recession, and undermining the overbought GBP. On the other hand, the recent stimulus measures in China could help cushion some of the downside risks to economic growth in the world’s second-largest economy, providing a tailwind to European growth
GBPJPY Analysis H1Here is my analysis for GBPJPY on H1 using Order Block. The price could go bullish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
GBPPJPY Long Term SELLING 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
GBPJPY Analysis H1Here is my analysis for GBPJPY on H1 using Order Block. The price could go bullish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
GBPJPY: Price growth prospect!The GBP/JPY pair continues its upward trend, despite a slight dip towards the 183.40s level at the time of writing, supported by various factors. The Ichimoku Cloud (Kumo) remains below the price levels, while the crossing of Tenkan-Sen above Kijun-Sen has opened doors for further price appreciation, as observed in Thursday's session.
GBPJPY: Trends are difficult to identifyGBP/JPY takes offers to refresh the intraday low near 183.50 during the first loss-making day in six amid early Monday morning in Asia. In doing so, the cross-currency justifies the market’s sour mood amid a light calendar, as well as ignores the hawkish concerns about the Bank of England.
GBPJPY - Short active ✅Hello traders!
‼️ This is my perspective on GBPJPY.
Technical analysis: I expect bearish price action here as we can see that price took out buy stop liquidity and rejected from institutional big figure 184.000. This is a risky short as it is against market structure, but I assume it.
Fundamental analysis: Tomorrow will be released monthly GDP on GBP and if the result is negative, it will support our analysis.
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GBPJPYMarket has been slow in the last few days, a few good moves here and there but generally slow. Hopefully with CPI and Unemployment claims coming out later today, market should pick up. Trade carefully and patiently.
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY Breakout Trade PlanBTCUSD wait for breakout and trade in the direction of breakout or place your but and sell stop.
Manage your risk according to account size!
