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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY IDEAGJ tried and failed at breaking a key weekly support area and has now rejected heavily off of the Weekly Support Zone and has gone bullish with a strong momentum moving almost approx. 200 pips in a day on Thursday. Today is a weekend and I would be cautious trading the pair. Though past data shows that momentum did continue the next day with reference to the July 22nd move earlier. We are also fast approaching a bearish tend line on the Daily. If we respect the Trendline then we can expect bearish correction due to the extreme impulsive up move or break the trendline and do a retest and continue moving upwards as we would then have a break of structure.
Long
by vaishakbhandary333
GBPJPY IDEAAfter a 175 Pip move yesterday into the daily resistance, we seem to have rejected right off of it and moving bullish. Though the overall trend still seems as bearish I would expect sells to be much faster than buys due to the overall trend on the higher timeframes. If trend is your friend and the way Bullish Momentum is being pretty slow, I would think that looking for sells below the Daily Resistance would be a excellent choice as post that you have clean candles to the left to replicate from and the overall HTF Trend then coming into picture in a better manner. For those who look for patterns on charts, we seem to have formed a Head and Shoulders Pattern and if that is any form of confluence then Sells are the way to go!
Short
by vaishakbhandary333
💡Don't miss the great sell opportunity in GBPJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (150.58). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . GBPJPY is in a range bound, and the beginning of a downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 19. Take Profits: TP1= @ 150.18 TP2= @ 149.55 TP3= @ 149.19 TP4= @ 148.61 TP5= @ 147.89 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
4
GBPJPY IDEAGBP/JPY Ranged today the entire day moving up and down the ranges giving a choppy price action. Analyzing from the monthly time frame we seem to have created a top wick and seem to be favoring the downside. Weekly has created resistance and now seem to be going to the downside. Since Wednesdays move coming down we seem to looking forward to do a correction to at least 50% of the move and then continue going down to fulfill the monthly timeframes direction. Personally i would wait for 30 min candles to close above or below the aforesaid range marked by the levels in the chart and the next candle to create a bottom/top wick before moving in the intended direction to take a trade. This is not a financial advice. This is my personal view of the currency pair.
by vaishakbhandary333
GBPJPY 275 pips winner 📈💰🤑Based on previous analysis of GBPJPY, the trade came out to be a winner. Target was 300pips but market printed 275 pips (satisfied). Usually I close my trade if the moment on intraday changes from the desired to unwanted, thst means in this case the desired momentum was bullish but at a certain time the market started rejecting download (bearish momentum establishment) so i close se the trade and take all the profits already made! Follow for more 📊 ALL THE BEST!
Education
by lofitrend