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Gbpjpyprediction

GBPJPY Analysis (8th April 2024) Market Analysis PT1/2 (8th April 2024) GBPJPY Analysis 1 hour timeframe, Price action has created a very bullish push to the upside after retesting the Bullish orderblock, creating another BOS to the upside. In the process, price action has created a bullish FVG on the 1 hour as well. There are 2 main scenarios i am looking out for later on in the London Session. 1. Price rejects off the fvg and creates a 5 minute Change of Character to continue bullish. Only then will i be interested to look for longs. 2. Price action fails to hold the bullish FVG and retraces deeper into a 1 hour OB. This is where i will be alittle more cautious of buys but its still possible if it gives us a 15 minute bullish Change of Character to show us that the lower timeframe orderflow is shifting bullish.
Long
by CallistoFX
GBPJPY I Potential pullback to support and more growthWelcome 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
2
GBPJPY Bullish Long side Robbery on GJ BankHola Traders, This is our Day Trade master plan to Heist Bullish side of GBP/JPY BANK . my dear Looters U can enter at the any point above my entered area, Our target is Red Zone that is High risk Caution area, If There is any Bad news it make our heist very sad and if the news is favorable for us then we can continue our looting from there with help of trailing stop. My dear Robbers please book some partial money it will manage our risk. Be safe and be careful.
Long
by Thief_Trader
1
GBPJPY I Bullish breakout and continuation 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
4
GBPJPY In the GBP/JPY pair's 4-hour timeframe, a bearish movement is evident as the Elliott Wave analysis suggests completion of the 12345 sequence, indicating a potential correction. Following this, the correction pattern ABC is anticipated. Moreover, with the price having completed around a 38% retracement of the last impulse, further downside movement aligns with a potential downtrend scenario. Traders may monitor key support levels for potential entry points in line with this bearish outlook.
Short
by forex_info
GBPJPY SHORT 1100 PIPS READ DESCRIPTIONThe analysis for GBP/JPY (British Pound paired with Japanese Yen) indicates a significant sell zone, characterized by the breaking of previous major support, which has now turned into resistance. The main resistance zone is identified between 190.9 to 191.4, suggesting a strong barrier to further upward movement in the currency pair. Examining the data from big players and investors provides further insight into market sentiment. Over the last two weeks, there have been 81,000 short entries compared to 19,000 long entries, indicating a significant bias towards short positions. This sentiment is reflected in the daily reports, which show 70% shorts and 30% longs. Furthermore, recent data shows 58% sell orders, indicating a prevailing bearish sentiment among traders. Considering technical analysis, the market volatility level of GBP/JPY over the past week is notable, with an Average True Range (ATR) of 1.24 and a total intraday range of 148.62%. This suggests heightened volatility, which can present opportunities for traders to capitalize on price fluctuations. The proposed trade aims to capitalize on the bearish sentiment in GBP/JPY, with a target of 1170.8 pips and a 6.14% profit potential. A stop-loss of 40 pips is set to mitigate potential losses in case the trade moves against expectations. Additionally, four target prices are set to capture potential profits at different levels, providing flexibility in managing the trade. Risk management is emphasized as a crucial aspect of trading, with traders advised to manage their risk effectively to protect their capital. By adhering to proper risk management principles and remaining vigilant for any signs of confusion or uncertainty in the market, traders can navigate the complexities of trading with confidence. In summary, the analysis suggests a strong bearish outlook for GBP/JPY, supported by technical and fundamental factors. Traders are presented with an opportunity to capitalize on this sentiment through a well-defined trading strategy, while also prioritizing risk management to safeguard their investments.
Short
by MOAZAM1133
GBP/JPY may reach 195-196 from where it can reverseHello traders, GBP/JPY's uptrend shows no signs of slowing down. As we had predicted in the previous idea, price has broken through the 191 level and currently it has crossed 193 as well. The uptrend is being fueled by the ultra-low interest rates in Japan which is weighing negatively on the JPY. That being said, there is a key level at 195.50-196 zone which could offer resistance. Keep in mind that a vast majority of retail traders as shorting GBP/JPY which means price can continue to move up as the market usually moves opposite to what the retail does. We have not taken any short positions in GJ. We are waiting to see whether price reaches the 195.50 level. In case of bearish price action, we will sell GBPJPY@195.50-196 with Stop loss above 197 and TP at 190, 185.
by KaltoireCapital
14
GBPJPY I Bearish divergence and overbought I It will rebalanceWelcome 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!
Short
by BKTradingAcademy
12
The Dragon Hits Key Resistance Time To Sell With 195 In Sight?The Dragon has been surging since the start of the Year even more after my initial trade idea from January which did hit my first target of 185 it has now rallied to new highs and sitting at a key Monthly level so what next ? Personally I think once again we have a nice shorting opportunity as we are at a key Monthly resistance level that goes all the way back to 2008 (marked in red) sitting around the 193 level. When price broke through this level in Oct 2008 it dropped nearly 7000 pips in a matter of Months and at the same time creating a nice Monthly SUPPLY/SELL zone. It took 7 years for price to grind it's way back up to this resistance level and when it did once again there was another HUGE near 7000 pip drop hitting the bottom in 2016 . It has taken just over 7 years once again to get back up to this resistance will history repeat ? Personally I think that there will 100% be a sell off once again at this level though I don't think it will drop as much as the last time though several thousand pips is a possibility. The daily chart below is showing us that price momentum is starting to slow down with the sideways movement as it approaches the key resistance, the image below shows you the initial strong trend up, followed by sideways price action, each time price broke to a new high it was quickly sold off to the bottom of the range until we finally got to the resistance level. With the weakness in the Yen this week I can't rule out a run up to the 2015 highs around 195 so my plan of attack is to use my TRFX indicator and look for daily SELL signals from now. First target for this trade will be the bottom of the sideways channel you can see in the daily chart above @180 price could gain some large buying attention here that could build momentum to break this resistance level. If there is a clean break of the monthly resistance then there isn't much stopping this pair moving straight up to the 200 level which is the 0.618 Monthly fib level from the downtrend that started in 2007 (see image below) It's going to be an interested next few weeks to see how this one plays out :)
Short
by TheFxAce
5
GBPJPY H4 | Breaking out of resistanceGBPJPY is rising towards a pullback resistance and could potentially break above this level and climb higher. Buy entry is at 189.153 which is a pullback resistance. Stop loss is at 188.484 which is a level that sits above a swing-low support that aligns with 50% Fibonacci retracement. Take profit is at 191.317 which is a swing-high resistance High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Long
by Alvard
300 Pips Profit booked in GBPJPY, now wait for a better entryPreviously, on 4 March 2024, we sold GBPJPY at the 191 level and managed to take 300 Pips profit when price dipped to 188. Since then, GBP/JPY is staging a recovery. Currently, the price action doesn't support any further selling. Also, with FOMC around the corner, we recommend traders to be careful with their trades. However, if price reaches the 191.50-192 zone once again and we see signs of bearish rejection candlesticks, we will consider selling GJ again with TP at 188 and 185 respectively
by KaltoireCapital
4
SHORT GBP/JPY from 189.14I've been anticipating GBP/JPY turning BEARISH for a few hours as we've seen the price push through the 200 EMA on H1 and the WP pivot and the signs are that GBP/JPY BEARS are jumping in. BEARISH signals include RSI which was 71 but is now 61 indicating a move south and MACD which is lagging behind (as usual) but signficantly not making any more headway north and the fast MA is beginnig to turn south and looks like it will be crossing the slow MA in the next hour or two if the price continues south. The much under used Andean Oscillator has seen the red SELL line leave zero and begin to climb (now reading .079) and at the same time we are seeing the gree BUY line of the same indicator lose ground though it still remains above the signal line and ideally we would like to see this below. The 200 EMA and WPP mid pivot now sit above the price so GBP/JPY BULLS will have it all to do to resume travelling north particularly as RSI is still high and the price would be pushing back into over bought territory. STOP is above the recent highs and target is the band of support at 188.41.
Short
by forextraplaces
British Pound Faces Volatility Amid Economic UncertaintyThe British Pound (GBP) is experiencing heightened volatility amidst ongoing economic uncertainty. Factors such as Brexit negotiations, the resurgence of COVID-19, and inflationary pressures are contributing to fluctuations in the value of the pound. Investors are closely monitoring developments in trade negotiations between the UK and the EU, as well as the Bank of England's monetary policy decisions, for clues about the pound's future direction. With global economic conditions remaining uncertain, the British Pound is expected to continue facing volatility in the near term, posing challenges and opportunities for traders and investors alike.
by CaterinaGoldTrading