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GBPJPY trade ideas

Pound-yen’s uptrend still seems to be activeCompared to cable, the pound’s performance against the yen in the third quarter so far has been much better. The Bank of Japan’s governor Kazuo Ueda reiterated recently that any upcoming further rate hikes would be gradual and according to economic conditions. ¥205, corresponding to about ¥160 for dollar-yen, might be the area of further governmental intervention, but that’s not likely to be in view for GBPJPY for a while yet. ¥195 was an important resistance and technical reference in late September and for much of last month and seems likely to continue as a key area. This coincides with the value area between the 50 SMA from Bands and the 100 SMA. Now that volume has dropped off somewhat compared to earlier in November and ATR isn’t rising strongly, it’d be possible to see a pause for a few days as participants digest upcoming data. It’s not clear yet how strong the 50 SMA is as a potential dynamic support. The current situation favours the carry trade quite strongly since the differential is 4.5%, which seems quite unlikely to change drastically within the next several months at least. The next significant move up if it occurs probably depends on the return of higher volume, which could be in the middle of December around the British job report and the BoE’s meeting. This is my personal opinion which does not represent the opinion of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
GBPJPY - Long setupMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels. In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level higher. Also price swept 1W key liquidity, so the probability for some bullish move higher. But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure. We can notice the break of market structure (sign of strength) on key liquidity level, so there is a higher probability to see price higher at least on opposite level (marked higher). Your success is determined solely by your ability to consistently follow the same principles.
Long
by Maks_Klimenko
GBPJPY potential buy, great risk to reward.GBP/JPY is currently testing a key support level, where I anticipate a potential reversal. The stop-loss is placed at 193.35, strategically positioned just below the support zone to minimize risk. The take-profit target is set at the previous resistance area of 197.20, aligning with historical price action. This setup offers a favorable risk-to-reward ratio, risking 158 pips to gain 226 pips, making it a strong opportunity for calculated risk-taking Our last forecast on this pair
Long
by Eleazarahmath
Potential bullish bounce off overlap support?GBP/JPY is currently on the pivot which aligns with the 50% Fibonacci retracement and could bounce to the 1st resistance. Pivot: 195.67 1st Support: 194.09 1st Resistance: 198.19 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Sells on GBPJPY on 20 NovOn Tuesday, we hit TP, but the price retraced back up during the NY session. Here’s how we approached the setup: Key Steps: Pre-London Setup: The first candle closed above the marked zone. Analyzing 4H Rejection: A massive rejection wick on the 4H candle indicated this could be the top, suggesting a possible retracement. Fakeout Anticipation: The next candle closed below the zone, which we anticipated could be a fakeout. Weak Confirmation Post-London Open: Another candle closed above, but it lacked strong confirmation. By this time, London Open had already passed. Waiting for Clear Direction: We remained patient, and the next candle closed below the zone again, solidifying the bearish bias. Entry Execution: Placed sell stops at the break of the current low on the 30-minute candle after confirmation of bearish price action. Stop-loss (SL) was initially set at the previous high but adjusted to allow room for price movement. Confirmation and Results: Continued monitoring showed candles consistently closing below the zone, confirming the bearish trend. Woke up to a 106-pip profit—a solid trade executed with patience and discipline!
Short
by arpitdahal
LOOKING TO SHORT GBP/JPYGBP/JPY 1H - As you can see price has traded us into a FVG and rejected well to the downside, this is giving us the suggestion that price may be looking to trade lower now. In order for us to deem a valid entry I want to see price trade us up and into the Supply Zone I have gone ahead and marked out above, this will allow us to get involved with a more refined entry as well. By price trade up and into this, rejecting to the downside and providing us with a fractal BOS, it tells us that the correction trading us up initially has come to an end and the new impulsive wave trading us lower is now ready to take place. I will set an alert just underneath the area of interest, once price trades up and into this zone I will wait patiently for the opening of a trade, as soon as we have the BOS this is when I will be looking to get involved, its important we have as much confirmation as possible.
Short
by Lukegforex
Trading Idea Update: GBP/JPY 30M - Bearish Setup After LiquidityIn this updated GBP/JPY 30-minute chart analysis, the market has continued to develop in line with our previous expectations. We're still targeting a bearish move based on ICT (Inner Circle Trader) concepts, but there are a few key updates to take note of. Here's the updated breakdown: Liquidity Clearance The Buy-Side Liquidity (BSL) above the previous highs has been cleared, as price aggressively moved higher, taking out stops and allowing smart money to accumulate positions. This liquidity grab is now complete, opening the door for a potential bearish reversal. Fair Value Gap (FVG) Mitigation Price is currently mitigating a Fair Value Gap (FVG), which aligns with a previous imbalance between buyers and sellers. This FVG acts as a premium zone for initiating short positions. The FVG also aligns with the high of the Asian session, adding more confluence to this level as a potential zone for a bearish reversal. Higher Time-Frame Confluence There is a H1 Order Block and imbalance (highlighted in red) above the current price, which suggests that price could still push higher before a significant drop. This level represents an area where smart money may look to finalize their liquidity hunt by sweeping the current highs before reversing. Bearish Bias with Alternative Scenario While the current plan is to look for shorting opportunities within the FVG zone (green), we must be cautious of the possibility that price could push further up to clear the current highs and tap into the H1 Order Block (red zone). If this happens, the market would still align with the bearish bias, but we may need to wait for a higher entry confirmation. Thus, two scenarios are possible: Scenario 1: Price reverses from the current FVG zone after mitigation, confirming a bearish entry model (e.g., CHOCH, BMS). Scenario 2: Price pushes higher into the H1 Order Block (red zone) before initiating the fall, clearing the current local highs and completing the liquidity hunt. Awaiting Bearish Entry Model We are still waiting for a bearish entry model to confirm the reversal. This could come in the form of a lower time-frame Change of Character (CHOCH) or Break of Market Structure (BMS) once we see a rejection from the FVG or the higher H1 zone. Asian Session Confluence The chart highlights the Asian session high and liquidity grab, providing further confluence that smart money has engineered a stop hunt during low-volume hours. This often sets the stage for a reversal during the London or New York sessions. Execution Plan Entry: Look for bearish confirmations within the current FVG zone or the H1 Order Block (if price pushes higher). Stop Loss: If entering off the FVG zone, place stops above the current highs. If entering off the H1 Order Block, place stops above the 198.000 level to protect against further liquidity grabs. Take Profit: Target the previous lows around 195.200, with extended targets towards 193.500 if the full bearish reversal unfolds. Summary The bearish bias remains intact, with liquidity now cleared and price mitigating the FVG. We are awaiting confirmation of a reversal entry model to initiate short positions. Alternatively, price could push higher into the H1 Order Block before falling, but the overall expectation is a bearish continuation once liquidity is fully hunted.
Short
by Cephas_John_
GBPJPY First 1D Golden Cross after 19 months. Strong BUY.The GBPJPY pair is forming today a Golden Cross on the 1D time-frame, the first such pattern in exactly 19 months (April 21 2023). Naturally this is a huge bullish signal alone, as technically the Golden Cross calls for upside action. But more specifically for this pair's price action, it indicates the high probability of an immediate aggressive push as the current formation is very similar to the April 2023 one. As you can see, both were trading within a Channel Up up to the moment of the Golden Cross, having started after a 1W MA100 (red trend-line) test. The 1D CCI trading on Higher Lows below -100.00 (oversold) is a confirmation that the price Channel Up breaks aggressively to the upside. The previous Golden Cross pushed the price just above the 3.0 Fibonacci extension, to a +18.40% rise. Throughout this time, the 1D MA50 (blue trend-line) was supporting the uptrend. As a result, we turn long now on GBPJPY, targeting 215.000 (just above the 3.0 Fib extension). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
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
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