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Gbpjpylong

GBPJPY looking for a support.GBPJPY - Intraday - We look to Buy at 157.70 (stop at 156.65) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. A lower correction is expected. Indecisive price action has resulted in sideways congestion on the intraday chart. Preferred trade is to buy on dips. Our profit targets will be 160.65 and 163.20 Resistance: 160.40 / 163.20 / 166.60 Support: 157.65 / 154.20 / 148.70 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
1
GBPJPY - Daily Trade Idea - 7-Feb-23GBPJPY (LONG)- If all the support holds in place. If we see the Support broken out then we could see the shift in the trend. I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart. (THIS IDEAS VALID NEXT 24 HOURS) Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry. - Rejection Candle Formation - Green Candle after the Red Candle. - Stochastic - Oversold Area - Timing of entry Prior / during UK / US Market Session.
Long
by onelinkFX
1
GBPJPY repricing taking placeGBPJPY has consolidated in the daily chart since the start of the year, following a steep decline in December. The price for GBPJPY keeps bouncing on the major area between 161.800 resistance and 156.300 support on the daily timeframe. There is also a minor consolidation between 161.800 and 160.600. This minor consolidation area is highlighted between the 50-EMA and 20-EMA periods. Last week the break in the minor consolidation led to a downward move. A noticeable three-bearish candle pattern formed a three-black crow after the break of structure from the minor consolidation. This formation may signal a potential further move to the downside. However, before the week ended last week, the formation of minor support occurred at 157.300, following the pattern formation. After the price created minor support at 157.300, the price recovered about half of its loss after the breakout at the minor consolidation area. It may tap at 160.600 or the 20-EMA period for a possible retest before a rejection happen. It is also worth noting that the weekly candle does not have a bottom wick which can be considered a Marubozu open. This type of candle could mean that the bulls are in control at the moment, and the price keeps moving without falling, which supports that we may have enough strength for a retest. On the other hand, some believe that a candle without a wick will eventually form one, either at the top or bottom. This could mean that after a retest, there is a possibility of a downward move to create a bottom wick. Historically, a candle closes without a wick is rarely seen in the forex market. Since GBPJPY is technically in a consolidation period in general, it is hard to say that the current downtrend will continue. But the signal given by the three-black crow formation may hold if the price found itself breaking below this major daily consolidation area between 161.800 and 156.300. In conclusion, GBPJPY has been consolidating between the price range of 161.800 to 156.300 since the start of the year. A recent minor consolidation between 161.800 and 160.600 was broken, leading to a downward move which created the three-black crow pattern. However, the creation of minor support at 157.300 allowed the price to recover half of its losses. A possible retest at 160.600 or the 20-EMA period is possible, but it is uncertain whether the downtrend will continue. The current trend and the signals given by the three-black crow formation will depend on whether the price breaks below the major daily consolidation area between 161.800 and 156.300.
by BlackBull_Markets
GBPJPYgbpjpy clearly in a uptrend on lower time frames and also pivots still showing trend up at the moment but this level gettin hit on the 4hr we could see a nice pull back which would be perfect for tomorrow for a buying opportunity around 159.1-158.8 now when it get to tomorrows pivot levels i want to see what it does just because we have equal lows "eql" and trend line liquidity "tll" which means theres a ton of orders resting at that low but as long as gj 158.8 level holds im looking for buys when thats broke ill be looking for sell setup to the 158 level
Long
by wolf_pack
GBPJPY - Daily Trade Idea - 6-Feb-23GBPJPY (LONG)- If all the support holds in place. If we see the Support broken out then we could see the shift in the trend. I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart. (THIS IDEAS VALID NEXT 24 HOURS) Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry. - Rejection Candle Formation - Green Candle after the Red Candle. - Stochastic - Oversold Area - Timing of entry Prior / during UK / US Market Session.
Long
by onelinkFX
2
GBPJPY Key Support Zone GBPJPY Has retested off the key support zone again to create the end of a triple bottom that we previously saw break out bearish but with last weeks positive news for GBP and the downward trend of the JPY add confluence to the pivot point and we could see prices rise, that being said amidst the gloomy outlook on the undecided interest rates in the UK it would be wise to see how we react after market open going into next week and if we continue bearish to retest the support or break through.
Long
by OfficialKieranTrewick
3
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 167.52. Also, according to the GBPJPY STRUCTURE, before BUY, you can move down to the SUPPORT LEVEL of 158.83 to the SUPPORT 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
GBPJPY WEEKLY UPDATE Hi trader The GBPJPY is still moving within the consolidation area between the lowers 155.350 and the high 162.222. The market ended the weekend with a high of 161.802 and a low of 159.587. Therefore, if this price goes up next week, it could break the consolidation and close at 163. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
Long
by mytw0cents