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British Pound / Japanese Yen

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GBPJPY trade ideas

GBPJPY MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Long
by okako_trading
GBP/JPY FOREX W PATTERN The W pattern, also known as a double bottom, is a bullish reversal pattern in technical analysis. It indicates a potential shift from a downtrend to an uptrend. Here’s a breakdown of the W pattern: Formation: The pattern resembles the letter “W” and consists of two consecutive lows (bottoms) separated by a peak (middle peak). First Bottom: This forms after a prolonged price decline, marking the lowest point of the current downtrend. Middle Peak: The price then rises, forming a peak before declining again. Second Bottom: The price falls again to a level similar to the first bottom, indicating a support level. Breakout: The pattern is confirmed when the price rises above the middle peak, signaling the start of a new uptrend12. Trading the W pattern involves waiting for the breakout above the middle peak before entering a long position. This helps in minimizing risks and maximizing potential gains12.
Long
by Faizgazi
GBPJPY SHOWING A GOOD UP MOVE WITH 1:5 RISK REWARD GBPJPY SHOWING A GOOD D UP MOVE WITH 1:5 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a bettertrader thank you
Long
by tradergyan01
2
GJ Key Resistance at 193 – Potential for a Short-Term PullbackThe GBP/JPY (GJ) currency pair has been riding a strong bullish trend over the past weeks, but we are currently approaching a crucial technical level around the 193.00 mark. This level has acted as a significant resistance zone in the past, and recent price action suggests that we could see a potential rejection here, leading to a short-term correction. Key Technical Factors Historical Resistance at 193.00: Looking at the higher timeframes (daily and 4H charts), we can clearly see that the 193.00 level has acted as a strong resistance in the past. The price has tested this zone multiple times without being able to break above it sustainably. With GBP/JPY now retesting this area, the probability of a pullback increases, especially given the overextended bullish momentum. Bearish Divergence: On the 4H chart, there are signs of bearish RSI divergence. While the price has been making higher highs, the RSI is showing lower highs, indicating weakening momentum. This divergence often precedes price reversals or corrections. Fibonacci Retracement Levels: If we take the latest leg of the bullish move from the 187.50 region up to the current high at 193.00, we see that the 50% Fibonacci retracement level sits around 190.25. This could serve as a key support area if the price corrects from the resistance. Psychological Resistance: The 193.00 level also holds psychological significance as traders may be locking in profits, especially after such a strong bullish rally. Coupled with potential profit-taking, the combination of technical and psychological factors strengthens the case for a pullback. Potential Trading Strategy Given these confluences, a short trade could be considered from around the 193.00 level, targeting lower Fibonacci retracement levels for profit-taking. Here's a potential strategy: Entry: Around 193.00 resistance. Take Profit Levels: 191.00 (initial support zone) 190.25 (50% Fibonacci retracement) Stop Loss: Above the previous high at 194.00 to manage risk. This trade idea aligns with the expectation that the market may see a healthy correction before deciding whether to break through the resistance or continue consolidating. Key Risk Considerations Fundamental Factors: Traders should keep an eye on key economic events and news affecting GBP and JPY, such as Bank of England statements or risk sentiment in global markets. Strong bullish news could invalidate this technical setup. Breakout Possibility: If the price breaks above the 193.00 resistance with strong momentum and volume, the bearish outlook could be invalidated. In this case, waiting for a confirmed breakout and retest before re-entering the market would be more prudent. OANDA:GBPJPY FX:GBPJPY FOREXCOM:GBPJPY
Short
by Trading_Zone_3773
GBPJPY SHOWING A GOOD UP MOVE WITH 1:7 RISK REWARDGBPJPYSHOWING A GOOD UP MOVE WITH 1: 7 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a bettertrader thank you
Long
by tradergyan01
1