GBPJPYI’d suggest to wait for a test of broken weekly structure, as well as necessary price action before going long. Target shown on chart. GBPJPY looks like a promising trade so far. Patience pays.Longby PreniFX119
GBP/JPY: Identifying a Reversal Following a Strong AbsorptionFollowing the successful closure of our previous position in this currency pair, which yielded a profit, we are now closely monitoring the market for signs of a potential reversal. This observation is based on the appearance of a strong absorption candle around the 200.55 area, which initiated a price retracement. The price has since retraced and returned to approximately the 80% value area. At this juncture, we are detecting indications of a possible new reversal towards the imbalanced areas. This setup suggests that the market might be poised for another significant move. By analyzing the price action and the behavior of the absorption candle, we aim to capitalize on this potential reversal. It is crucial to keep an eye on the imbalanced zones as these areas may provide opportunities for profitable trades. Our strategy will involve carefully monitoring these levels and adjusting our positions accordingly to maximize our returns.Shortby FOREXN1228
GBP/JPY Trade Setup: Strategic Short PositionGBP/JPY Trade Setup: Strategic Short Position Entry: Sell at 200.40 - Rationale: The price is at a major resistance level across all timeframes, indicating a strong potential for a reversal. Stop Loss: 200.92 - Rationale: Positioned just above the resistance level to protect against upside risk. Take Profit: 199.69 - Rationale: Targeting the previous support level where we expect the price to bounce back up. Market Context: - The price is currently testing a significant resistance level across multiple timeframes, increasing the likelihood of a downward correction. - The stop loss and take profit levels are clearly defined on the chart for precise risk management. Strategy: - Watch for confirmation of a reversal from the resistance level before entering the trade. Good luck with your trades! Longby EleazarahmathUpdated 3
GBPJPY CONTINUATION SELL? GBPJPY has retraced back its previous support zone. I believe it will continue to sell from this zone. Shortby BlackSheepFinancial2
GBPJPY FORECAST Q2 2024: Yen-Sama not looking kawaiiiBULLS: { ◕‿◕ } OTAKU: { ◕_◕ } what do you mean no more anime for the remainder of the year Been very quiet since my last discounting of Yen-sama’s future events Im expecting this pullback to have a bullish continuation in time for now i expect one of the 2 levels to be the entry but i expect some ranging as TVC:JXY seems to be gaining power but same is said for TVC:BXY BOJ raised rates raise in march for the 1st time so this is just the start, and UK definitely looking like a more solid investment to keep my money as it just exited the recession growing at a higher than expected rate. But if you ask me it might fall back into the recession in time when America finally admits their failure and falls back into an epic recession still waiting for it... BUT when that does happen yen will be in a 10x weaker position than the UK which will fall with slow strides till it eventually gets so hot, japan on the other hand will just fall into even deeper economic chaos.Longby Bekiumuzi_DubeUpdated 117
GBPUSD enter in bearish modeGBPUSD has broken higher low in one hour time frame know the trend is turning bearish good opportunity for a short trade with a small stop loss.Shortby kashif19992
GBPJPY-BEARISH-TRANDGBPJPY is in a bearish trend as it formed bearish diver gen and printing lower high anf lower lowShortby FazalSiyal2
GBPJPY WILL EXPLODE BUYManage SL during news time, intraday trade tp and sl mentioned not a financial adviceLongby ArehmanB2
GBPJPY: Watching for Bearish Confirmation After Uptrend Channel GBPJPY presents a potentially lucrative opportunity for day traders, but caution is advised. This analysis explores the current price action and outlines a potential short trade setup. Technical Analysis: Uptrend Channel Breach: The price has potentially broken above the uptrend channel on the daily chart. However, the validity of this breakout is questionable. Bearish Engulfing Pattern: A bearish engulfing candlestick pattern has formed on the daily timeframe, following another red candle. This suggests a potential reversal of the uptrend. Fibonacci Retracement: Based on your chart (which I can't see directly), you identified the 61.8% Fibonacci retracement level as a potential downside target. Trading Strategy: Confirmation is Essential: Entering a short trade right now is not recommended. Wait for confirmation of a bearish reversal. This could involve a daily candle closing below the 23.6% Fibonacci retracement level or a strong bearish candlestick pattern forming. Risk Management: Given the potential for a false breakout, proper risk management is crucial. Define clear entry, stop-loss (above the channel or a recent swing high), and take-profit levels based on your strategy and risk tolerance. Important Considerations: Market Context: Fundamental factors and economic news releases impacting Japan and the UK can influence price movements. Staying informed can provide valuable context for your trade. Do Your Own Research (DYOR): This analysis provides a potential trade idea, but it's not a guaranteed outcome. Always conduct your own research and analysis before entering any trade. Remember: The forex market can be unpredictable. Shorting any currency pair carries significant risk. By combining this analysis with proper risk management, additional research, and waiting for confirmation, you can make informed trading decisions in the GBPJPY market.Shortby OMGiTzREALHASSAN2
CHART BREAKDOWN GBPJPY: Key Levels, Targets and Thoughts!Brief Description🖊️: The chart provides insights into critical market levels, emphasizing an essential demand zone (medium-risk sell zone) spanning from 198.550 to 198.400, respectively, are highlighted. Things I Have Seen👀: Medium-Risk Buy Zone🟠: Positioned between 198.550 and 198.400, suggesting another area with moderate risk for potential buying positions. Bullish Targets📈: 199.000: Possible retracement area. 200.000: Possible retracement area. 200.300: Possible retracement area. 201.000: Liquidity area. What's Important Now❗ Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market. Longby TTradessss3
GBPJPY Sell/ShortNew sell short for GBPJPY sell short. I have a TP for 196.971 set in and a stop loss can be set for 25 pips. Please message me for any questions in regards of this trade. Shortby KingTraderFX3
GBP/GPY ( Exhaustion )We have come to the previous top from a month ago. We are also extremely overbought. I expect a breakdown here once we close below current structure. Shortby GuardianFX2
📉⚡ *Heads Up Investors! GBPJPY Rally Watch!* ⚡📉🔥 Attention traders! 💎 GBPJPY is soaring, shattering benchmarks with elegance! ⚡ Here’s the update: 🔎 GBPJPY Analysis: 📈 Locked in an intense battle between 200.250 and 200.414. 🧐 Is a breakout imminent? 📉 Bearish Scenario: ⏬ Stay cautious for potential drops if it falls below the range! 🎯 Targets: 200.050, 199.995. 📈 Bullish Scenario: ⏫ Watch for buying signals if it climbs above! 🎯 Targets: 200.540, 200.550. 💡 Join the Conversation: 🗨️ Share your insights as we navigate this sterling journey! 📢 Let’s achieve new milestones together! 🚀by hanalyeeforex2
GBPJPY EVERYDAY TRADE SETUP Dear All, This my idea for sell once sell candle Confirm then only i go short this is my ideas only. what you flow your trading statistics you can continue. you need more my ideas flow meShortby TradsTrendTacticsUpdated 9
gbp/jpy bulish continuationi aspec j/j to breakout my trend line and continuing to the up side Longby Thund3r_FX2212
GPBJPY TRENDLINE BREAKOUT SELLHere on GBPJPY price has broken the trendline after a series of bouce on support area this show there is likely to have have a huge move down sice the previous trend was not healthy enough. So the target profits should be at the previous support level of the first and the second previous support for another take profit. Shortby FrankFx142
BIG SHORTChart on the monthly team Entry area: red price.. Final target: green price Step targets are marked on the chart. Green bands.. Waiting for the result..Shortby mehdielahian226
long GJJpy market looking pretty good, but USA isn't this week. i'll be looking for a retracement with some wick as support to long this trade. maybe only 1 x order if happens today, don't like trading on mondays. Longby FormedzeusUpdated 1
GBPJPY → The Yen continues to weaken. Target 197.0FX:GBPJPY is testing trend support, but buyers are keeping the price away from risk zones. The currency pair is returning to the bullish zone relative to 193.5, which generally opens up the market to 195.0-197.0 upside potential On W1, the currency pair after a false breakdown of global resistance is moving back to 195.844, which generally tells us about the strength of buyers. Interventions by the central bank of Japan played a short-term role and the news leverage has exhausted itself. Traders continue to put on short positions and still sell the national currency, which in general only strengthens the pound against the yen. Consolidation above 193.5 confirms the bulls' intentions to continue the growth. Resistance levels: 194.15, 195.56, 197.38. Support levels: 193.54, 193.0 A retest of the local resistance at 194.15 is being formed. A breakdown and consolidation above this level will cause further growth towards the previously mentioned targets. Regards R. Linda!Longby RLindaUpdated 5559
lookingn for retracementif price drops back down, im looking to enter a long around here, but im expecting it to hard pump, if no pump or any rejection, i'll close it. Longby FormedzeusUpdated 1
Short GBPJPYLooking to short GBPJPY. GJ is currently trading a VERY strong uptrend, when it moves like this counter trading must be smaller take profits. Considering this, I am still looking to short based on what the chart shows us. Confluences: Previous weekly high/weekly intra key level Alignment to AUDJPY Entry price: 200.420 Stop: 200.900 Target: 199.80 With alignment across JPY pairs, this gives a level deeper than just technical. Catch you later traders ▲ Shortby FalkenFxUpdated 223
GJ Rising Wedge Break!Here I have GBP/JPY on the 1 HR chart! Price has been following what looks to be a Rising Resistance and Rising Support forming a RISING WEDGE!! Early this morning on disappointment of GBP strength, we seen price BREAK BEARISH strongly on the pattern!! I believe price is now retracing to the Rising Support of the Wedge to test as a VALID BREAK for confirmation that price will CONTINUE DOWN!! *Currently waiting on the Re-Test of the Rising Support Break! Upon VALIDITY, I will be looking to SELL!Shortby Novi_Fibonacci2