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GBPJPY trade ideas

GBPJPY Support and Resistance Levels: Is 200.50 Within Reach?GBPJPY recently reached a target we discussed a couple of weeks ago, and the bullish trend remains intact above the 197.76 level. The price bounced from this level on Sunday, Monday, and Tuesday. If the price dips to around 198.42 but holds above 197.76, I anticipate bullish traders will likely support the price, aiming to lift it toward the resistance at 199.43. Should the price break above 199.71—the next target at 200.50 may come into play. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Long
by ThinkMarkets
GBPJPY Will Move Higher! Buy! Take a look at our analysis for GBPJPY. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 199.119. The above observations make me that the market will inevitably achieve 199.813 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPJPY Potential Up Trend ContinuationGBPJPY is forming a bullish trend, marked by higher highs and higher lows on the 1H timeframe. Recently, it broke and closed above the 195.600 resistance zone, a level that had been tested multiple times. Following this breakout, the market could surge toward the upper boundary of the channel. Given the choppy market behaviour since the beginning of October, this breakout could potentially be significant. The target is the resistance zone around 196.900
Long
by RTED_Investing
GBPJPY: Bulls pushing to break 195.5—momentum rising!GBPJPY is steadily climbing towards the critical 195.5 level, carving out an ascending triangle pattern—a sign of consolidation before a potential breakout. This technical formation is often a precursor to a continuation of the upward trend, with bulls aiming to breach resistance and push the market even higher. The defense of key support at 193.5 has been robust, with buyers holding ground as GBPJPY inches toward testing 195.5. A significant factor driving this movement is the weakening JPY, spurred by shifts in Japan's economic fundamentals, which are boosting sales of the national currency. This, in turn, is providing a favorable tailwind for GBP. The UK economy remains stable with GDP growth at 0.2%, offering no surprises to market participants. However, eyes are now on the upcoming Producer Price Index (PPI) data, which could further impact the pair. If the PPI follows the pattern of recent economic reports, it's likely to support the USD, placing additional pressure on the JPY. In this scenario, GBPJPY could benefit from a surge in bullish momentum, potentially overcoming the 195.5 resistance level and sparking a continuation of the upward movement. **Support levels**: - 193.5 (key support zone, holding firm) - 191.7 - 190.0 **Resistance levels**: - 195.5 (the next major target for buyers) From a technical perspective, the current chart structure suggests that GBPJPY is positioned for further gains. The ascending triangle reflects the market's consolidation in preparation for a decisive move, with the broader fundamental backdrop favoring the bulls. The changing market dynamics, coupled with a supportive economic environment for GBP, have shifted the momentum towards buyers. All eyes are now on the impending breakout, which could act as the trigger for continued growth beyond the 195.5 barrier. In summary, the combination of weakening JPY fundamentals and GBP resilience is paving the way for a potential breakout. The market structure supports an upward continuation, and the bulls appear ready to capitalize on the opportunity to push past key resistance. The trigger for the next move lies in the ability to break through the 195.5 level, which could ignite further upside momentum and confirm the continuation of the broader bullish trend.
Long
by lonelyPlayer0
GBP/JPY Consolidation Tightens: Bulls Eyeing a Break Above 195.7After a strong correction and finding a bottom at 180 in early August, OANDA:GBPJPY began to recover, initially rising to the 193 zone. Another leg down followed, but this time, bulls regained control at the 183.90 level, forming a higher low supported by a double bottom pattern. The next upward move stalled at the 195 resistance, and the pair has since entered a consolidation phase. However, the recent consolidation range is tightening, and it appears that the price is gearing up for an upward breakout. I am slightly bullish on this pair, and a break with a daily close above the 195.70 resistance level would confirm this outlook, potentially leading to further gains toward the key 200 zone. In the short term, interim resistance around 198 could also serve as a target for bullish traders.
Long
by Mihai_Iacob
4
GBPJPY - 4hrs ( Buy Trade Target Range 280 PIP )🟢 Pair Name : GBP/JPY Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money 🟢 Key Technical / Direction ( Long ) Break Out Done Type : Mid Term Swing ——————————— Bullish Break 195.700 Area Reasons - Major Turn level / M - Visible range Lvn - Triangel Pattern - Fibo Golden - week High Area - Choch Zone Bearish Reversal 198.850 Area - Major Turn level / D - Visible range hvn - FIbo Golden Zone - Quarters High Area - Choch Zone
Long
by GoldenEngine
7
GBPJPY risky sell, aggressive stance on rate cut?Why are we taking this sell even though the trend is bullish? "Bank of England rate-setter Megan Greene suggests that future rate cuts could boost consumer spending in the UK, potentially stimulating the economy. However, she remains cautious about rushing into a faster rate-cutting cycle due to uncertainties around how households will react. With inflation risks still present and consumer spending lagging compared to the US, the outlook for GBP remains uncertain. Traders should watch for any signs of the BOE taking a more aggressive stance on rate cuts, which could impact GBP/JPY movement in the coming weeks." If BOE does take more of aggressive stance expect this to play out
Short
by Eleazarahmath