Get started

Gbpjpyanalysis

GBPJPY daily rejection at 164.68 since Dec 2022Looking at the price chart, we can see price has done a Change of Character, and it is currently pulling back so it can go for a Break of Structure. I am anticipating the reversal of the pullback at 164.50 - 164.74 region because :- i. We have an Order Block yet to be mitigated in that region. ii. We have 50% Fib Retracement level of wave A at 164.60 iii. We have a Trendline Liquidity around that region iv. Looking at the upward correction from 162.78, it resembles a Flag v. Looking at the Daily chart, I observed that we don't have any candle close above 164.68 since December 21, 2022, which I refer to as a Resistance/Supply zone. In summary, we have a small buying opportunity from 163.80 - 164.65 but I would recommend looking for selling opportunities instead because no candle had closed above 164.68 yet on the daily TF this year and I don't think it would be happening yet due to the confluences of selling signals we have. I would love to hear your thoughts 🤔, feel free to leave a comment ✍. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
Short
by owlswift_fx
GbpJpy -> This Is The SetupHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy just recently perfectly retested and already rejected a quite obvious uptrendline which we had exactly at the 185.5 area. You can also see that we are currently retesting previous resistance at the 165 area, however weekly market structure looks very bullish so I am now just waiting for a break above the zone before I then do expect more continuation towards the upside. On the daily timeframe you can see that GbpJpy is also retesting previous daily resistance at the 165 area - I am also now just waiting for a daily break and retest before I think the next impulse towards the upside will be quite likely. Thank you for watching and I will see you tomorrow!
Long
by basictradingtv
39
GBPJPY below 163.77Last Month's Open and Close is around 163.73 - 163.77 region and from what we can see so far, price broke and has stayed below it. Reasons I am staying Bearish ATM 1. As long as price doesn't close above 163.77, I believe our bearish momentum continues 2. We had a change of character when price broke through 163.00 3. I am expecting a pull back to 163.77 before a break of structure at 162.77 4, I believe we are in a 5 wave movement downwards to 161.39 - 160.85, where we have an order flow. 5. Price is still below the 50 EMA and 200 EMA The orange zone marks my entry and where the last order block is situated which also coincides with our last month's close/open, whereas my target is 160 region. Any price movement above 163.90 invalidates my analysis. There's a buying opportunity between 163.00 - 163.80, although we are bearish, we can also scalp the longs. I would love to hear your thoughts 🤔, feel free to leave a comment ✍. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
Short
by owlswift_fx
GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS#GBPJPY - According to the GBPJPY analysis we gave the previous day, the GBPJPY SELL SIDE WAVE was moving very well in the previous days. The reason for that was FUNDAMENTALLY STRONG JP10Y STRONG JPY STRONG causing GBP WEAK. And because the MARKET SENTIMENT is STRONG. XXXJPY has been selling very fast since last week. - JPY has become somewhat STRONG as VIX is slightly UP. Due to this, STOCKS and XXXJPY CURRENCY were slightly SELL. GBPJPY also SELL because of that. But now there is a bit of RISK ON BIAS. Therefore, GJ can be BUY in the future. - Currently, GBPJPY LONG TERM can move up to the LEVEL of 171.000. Also, according to the GBPJPY STRUCTURE, before BUY, you can move up to the 161.60 SUPPORT LEVEL to the RESISTANCE LEVEL. Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT. Currently, the MARKET is somewhat RISK ON. Therefore, XXXJPY will be a BUY in the future. Therefore, pay attention to the CURRENT MARKET SENTIMENT.
by benny_marshall
1
GBPJPY- A MASSIVE SELL OPPORTUNITY Dear Traders, hope all of you are doing great, we have 900= pips selling opportunity on GBPJPY, currently we had change of the character and price is bearish since last two days. There are two areas that we are targeting at the moment labelled as 'selling zone 1' and 'selling zone 2'. Remember if you are entering, enter with stop loss not more than 40+ pips which applies to both entries. Good Luck and Please do like and comment! :)
Short
by UnknownUnicorn52780235
16
The GBPJPY achieved some Gains.The GBPJPY pair ended its recent bullish rally by achieving some gains and reaching 166.40, followed by Diving bearishly towards 162.75, hinting its surrender to the stability of the major barrier around 166, which will hinder the attempts to resume the bullish attack in the near term and medium term period. Also, stochastic exit from the overbought areas will force the price to provide new negative trades that might push it to settle within the bearish channel again, to suffer some losses by moving towards 161 and beyond... BUYING SCENARIO: For now point to consider will be 162.75 as a major support...if hold (Buying Scenario) 163.80 will be my first target (Resistance) and if broken then 167 will be confirmed. SELLING SCENARIO: again point to ponder will be 162.75 as support and if broke downside then 161.10 will be my target and if broken too then we'll see further nose dive Trade Wisely.
by AdilHussain731333
GBPJPY SELLWelcome . British pound against the yen. in a very negative state. With the price reaching the strong resistance 164.500, with a retest of the area. It also formed a very negative candle on the daily chart. with a downward trend. There is a lot of pressure from the sellers to bring the market down. To 160,000 levels in the first stage. And level 158.000 good luck. Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click for free content. Thank yo
Short
by inv_market09
69
GBPJPY gunning for 166.76GBPJPY has failed to hold below 164.38 which failed my bearish conditions and has changed my view on the price movement. GBPJPY has been bullish for the past 1 week and I think it is consolidating so it can move higher and at this point, I am bullish biased on this pair and would recommend everyone look out for buying opportunities at 164.00 - 163.70 region. 👉 Price is above the 200EMA which clearly means we are still bullish 👉 Price has broken multiple resistance/supply/downward trendlines over the past couple of days 👉 Price is in a 5 waves progression and I believe wave 5 is currently unfolding, which puts my first target at 166.76. I would recommend everyone to buy the dip, and as long as 163.44 holds uptrend is not over yet. I would love to hear your views concerning GBPJPY. Please like if you agree and follow for more updates ❕❕❕
Long
by owlswift_fx
GBPJPY Bearish ConditionsLast Friday had the buyers push price up with their last strength but got pushed back by the sellers at the supply/resistance zone around 165.50 region which made the daily candle end as a pin bar, and this is a good candle sign for a reversal to occur, and this week I would expect GBPJPY to push all the way down to 161.51 region if 164.38 region holds. Price has closed below the purple 50 EMA which is also a good bearish sign Its possible price won't consolidate once market opens and its also possible it moves up to 164.38 region for a retest but as long as price 164.38 holds GBPJPY is bearish. Feel free to comment. Please like and follow for more updates
Short
by owlswift_fx
2
GBPJPY: Bears enter!According to the Bank of Japan's Tankan survey for the first quarter, inflation expectations have increased slightly. Additionally, the Jibun Bank of Japan's manufacturing Purchasing Managers' Index (PMI) has risen from 48.6 to 49.2. At the beginning of the week, cautious markets responded to recent news regarding oil production cuts and the subsequent rise in oil prices. Saudi Arabia, along with other OPEC+ oil producers, has announced additional cuts to oil production, totalling approximately 1.16 million barrels per day. The energy ministry of Saudi Arabia stated that these cuts were made as a precautionary measure to maintain stability in the oil market. As a result, the price of WTI crude oil experienced a notable increase, opening the week with a significant gap and reaching a record high of $81.51 during the first few hours of the Asian session on Monday. Anticipate a further decline in the price.
Short
by Sphyn-Trader
Change of characterAfter the liquidity wipe out price swiftly went bullish, got rejected by the neckline and sold off to complete the head and shoulders pattern. Price pushed up on to change the character of the structure and broke the structure to create a higher high. Notice a mild drop after the creation and the order got rejected by the supply zone to drop to the breaker block. Price is now currently reacting to the block, currently faced with reversal candlesticks. Should price respect this area, then we expect it to drive all the way up to make a nice liquidity sweep before going aggressively bearish. The initial target point should be level 164.491 or at least between levels 164.210 and 164.491 then ultimately we target 165.490 before going bearish…
by tokelohomi
20 Reasons for Buy GBPJPY🔆 MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW ☀️ 1: ✨ Eagle Eye: Although the trend is extremely bearish, the current move is showing a lower high, which may indicate a potential shift towards a bullish trend. 2: 📆 Monthly: There is a clear bullish trend at the monthly level, with consecutive monthly lows being protected. 3: 📅 Weekly: A deep corrective move just finished last week, and this may cause a change in market behavior towards a bullish trend. 4: 🕛 Daily: The intra-day movement is currently sideways, indicating a potential shift towards a bullish trend. Since the big time frame trends are also bullish, we need to change our perspective and wait for a resistance break. 😇 7 Dimension Analysis 🟢 Analysis Time Frame: Daily 5: 1 Price Structure: The price structure is currently sideways to bullish. 6: 2 Candlestick Pattern: The long wick bearish change of guard indicates a potential correction, which we should be prepared for. 7: 3 Volume: The volumes are currently not supporting the bullish trend, which is a little strange. Therefore, we need to be careful with buy entries. 8: 4 Momentum UNCONVENTIONAL Rsi: Resistance is at 60, but the current momentum is sideways. 9: 5 Volatility Measure Bollinger Bands: There was a head fake from the lower band, and the current closing is also indicating a similar scenario. Therefore, we need to wait for a strong confirmation before going with the bull trend. 10: 6 Strength ADX: Compared to last week, the bulls are gaining strength. 11: 7 Sentiment ROC: Last week, the JPY rate of change dramatically decreased, making it the weakest currency for the upcoming sessions. ✔️ Entry Time Frame: H4 12: Entry TF Structure: Bullish 13: Entry Move: We should wait for the correction to end. 14: Support Resistance Base: Daily and H4 areas with FVG (Fibonacci Volume Gradient). 15: FIB: We can use a 15-minute trendline breakout with a Fibonacci trigger event on H4. ☑️ Final Comments: Buy at 15-minute Confirmations 16: 💡 Decision: Buy 17: 🚀 Entry: We can enter at 161, but this is not final, and we need to confirm at the time of entry. 18: ✋ Stop Loss: 158 19: 🎯 Take Profit: 170 20: 😊 Risk to Reward Ratio: 1:3 🕛 Expected Duration: The expected duration for the price to reach the target price is around 3-4 weeks, based on the current market conditions and trends.
Long
by Optimum369
GBPJPY: Upbeat Japan inflation, sluggish yields!During early Friday, the GBP/JPY bulls attacked the previous monthly high and refreshed the multi-day top by picking up bids around 164.80, despite the downbeat expectations of Japan inflation numbers. The latest run-up of the cross-currency pair can be attributed to the optimistic sentiment, even though the yields are still slow. It should be noted that no information has been omitted in this paraphrased text. In March, the Tokyo Consumer Price Index (CPI) increased to 3.3%, which was higher than the expected 2.7%, but lower than the previous month's 3.4%. The Tokyo CPI, excluding food and energy, also rose to 3.4% compared to the previous reading of 3.2% and the market consensus of 3.3%. In February, Japan's Industrial Production growth exceeded estimations with a 4.5% month-on-month increase, compared to the expected 2.7% and the previous -5.3%. Similarly, Retail Trade showed an improvement in February with a 6.6% increase, surpassing the analysts' forecast of 5.8% and the previous reading of 5.0%. However, the unexpected increase in Japan's Unemployment rate from 2.4% to 2.6% in February can be attributed to the recent weakness of the Japanese Yen (JPY). Technical analysis A downward-sloping resistance line from December 13, 2022, near 164.80 by the press time, challenges immediate GBP/JPY upside.
Long
by Sphyn-Trader
2