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Gbpjpyforecast

GBPJPY Technical Analysis and Trade IdeaIn our video, we explore the technical analysis and a trading concept for the GBPJPY. Our assessment indicates a potential trade opportunity. We'll analyze the current price action, closely examine market structure, and factor in market dynamics, and identify a potential entry point guided by favorable conditions. Nonetheless, it's essential to emphasize the importance of sound risk management strategies. Please bear in mind that this video serves purely educational purposes and should not be interpreted as financial counsel.
Long
by fxtraderanthony
2
GBP/JPY - Potential Upside Opportunity from Key Support LevelKey Support Level Analysis: GBP/JPY currently finds itself positioned at a crucial support level, indicating a potential opportunity for upward movement in the market. This support level, identified at 190.400, has historically demonstrated a significant influence on price action. Entry Strategy: Traders looking to capitalize on the anticipated upward movement may consider entering the market upon a re-test of the support level at 190.400. This re-test serves as a confirmation of the support's strength and validates the bullish bias. Risk Management: To mitigate potential losses, a prudent risk management approach suggests placing a stop loss order at 189.380. This level serves as a safeguard against adverse price movements and aligns with the technical analysis framework. Take Profit Targets: Three distinct take profit targets offer strategic exit points for traders seeking to maximize profit potential: 1. Take Profit 1 (TP-1): Positioned at 191.475, TP-1 represents an initial profit-taking opportunity as the upward momentum gains traction. 2. Take Profit 2 (TP-2): Set at 192.500, TP-2 reflects a continuation of the bullish trend, capturing additional gains as the price trajectory unfolds. 3. Take Profit 3 (TP-3): Targeting 193.500, TP-3 serves as a more ambitious profit target, accounting for potential extended upward movement in the GBP/JPY pair. Disclaimer: Trading forex carries a high level of risk, and individuals should carefully consider their risk tolerance and financial situation before engaging in any trading activities. It is advisable to seek advice from a qualified financial advisor before making any investment decisions.
Long
by MZ_FX_
GBP/JPY Key levels for buying +250 Pips potentialHello traders, GBP/JPY has been sliding lower for the last few days. What's even more interesting if the fact that price has constantly stayed below the 100-hour moving average for quite some time now. That being said, there is a possibility of a rebound in GBP/JPY Traders waiting to buy, must wait for the price to break the 100-hour moving average level with a strong bullish impulse. Subsequently, the levels to target would be 191.40, 192.26 and 193.60
Long
by KaltoireCapital
11
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
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: Yesterday's idea 200+ pips up| Here is second entry | OANDA:GBPJPY yesterday's idea did the exact same thing as had expected right now the pair is up 200+ PIPS, we are anticipating a small correction in the price, where we think price will bounce back strongly. Wait for price to approach our level and then enter a buy entry accordingly. Remember to use proper risk management and take this idea as bias only. If you do not agree then do not take. Good luck and trade safe.
Long
by Setupsfx_
19
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
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