GBPJPY trade ideas
GBPJPY H4 I Bullish Bounce Off Based on the H4 chart analysis, we can see that the price is falling toward our buy entry at 198.65, a pullback support that aligns closely with the 61.8% Fib retracement.
Our take profit will be at 199.54, which is a swing high resistance level.
The stop loss will be placed at 197.98, which is a pullback support level.
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British Pound / Japanese Yen (GBP/JPY) 4-Hour Chart Analysis4-hour performance of the British Pound against the Japanese Yen (GBP/JPY) via OANDA data. The current price is 199.352, reflecting a 0.129 (0.06%) increase. The chart highlights a recent upward trend, with key support levels around 198.107 and 198.994, and resistance near 200.415. A breakout above the recent high is indicated, suggesting potential for further gains.
GJ Bullish Shift After Daily FVG MitigationHello Traders,
Hope everyone is having a fantastic week!
Today on GBPJPY, price has shifted the 4-hour swing structure to bullish following the mitigation of the daily Fair Value Gap (FVG)—a strong sign of a change in character (CHoCH). From this point, price may aim for the daily weak buy-side liquidity (BSL). Use your lower time frames (LTF) to identify bullish patterns that support this long trade setup.
GBPJPY RangingGBPJPY is still in the range. For this range we can trade between the zones drawn. It has taken previous day high already. There is S&R level and supply zone if gets buyer push and crosses previous week high we may expect further bullish momentum. Till now we can trade between zones if we see any bullish signs.
GBPJPY – Eyeing new highs as bullish structure holdsGBPJPY continues to trade within a steady ascending channel and has recently bounced from short-term support around 198.200. If price breaks above 199.400, bullish momentum could strengthen, targeting the previous high near 200.800 — a key resistance zone that has been rejected before.
From a fundamental perspective, expectations that the Bank of England will maintain high interest rates to combat inflation are supporting the pound. Meanwhile, investor sentiment remains cautious toward the yen following dovish signals from the Bank of Japan. If upcoming UK economic data is positive, GBPJPY may continue climbing in the sessions ahead.
GBPJPY A Fall Expected! SELL!
My dear subscribers,
My technical analysis for GBPJPY is below:
The price is coiling around a solid key level - 199.16
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 198.88
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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WISH YOU ALL LUCK
7.15 GBP/JPY LIVE TRADE UPDATEThis is day 3 on this trade. Classic 123 pullback into S/R followed by an engulfing candle, there was a signal on the chart earlier but volume/momentum did not line up so we waited for all indicators to align before hitting the "go" button. We always wait for a new high/low before considering price action as being in a true pullback. We also use the volume indicator alot and rely heavily on it, volume shows the interest this pair has atm. We will keep watching, it should have plenty of room to hit our 2:1 R/R target. What target do you normally go for?
GBPJPY Will Grow! Buy!
Here is our detailed technical review for GBPJPY.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 198.531.
The above observations make me that the market will inevitably achieve 202.938 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Falling Wedge Formation Ive been bullish on GBPJPY for a couple weeks now and I still believe that it has more upside potential. Here we have a Falling Wedge Formation. we have 4 touches on our pattern already and just waiting for a break and retest to enter again. I am currently in a position based of the retest price gave of the previous resistance (circled on chart). Lets see how it goes.