GBPJPY not doing much from last couple of weeks so have to resort to Support play to trade.
In the short term going into next week I expect to see the pair slide further down. Break & close below the trend line (lower channel line) would likely spike interest to short this pair after refusing to make new highs. Candlestick patterns confirms further rejection for a push to the upside.
Hey Everyone, OANDA:GBPJPY we have witnessed change in price behaviour, in longer time frame price have failed to breakthrough the 193.00 price region. After witness many strong wicks rejection we anticipate that sellers presence in the market remain extreme and it will likely to increase in the days to come. You can take sell entry now with stop loss and...
The area around the WR1 (192.52) pivot both last week and this week has been a bridge to far for GBP/JPY BULLS. I've shorted this pair 4x this week and we're back at the pivot once more. Yesterday saw a massive sell off in the early hours and this looked like it was the end for GBP/JPY BULLS but amazingly they've recovered all lost ground and the price is pushing...
Elliott Wave analysis on GBPJPY points to a SHORT opportunity as the pair completes what appears to be a corrective wave (b) and may be embarking on a bearish wave (c). This is reinforced by the recent failure to maintain upward momentum beyond the 0.774 Fibonacci retracement level of the previous decline. If the bearish wave (c) unfolds as anticipated, we could...
This would be the next slide of the GBPJPY Journey which started with a simple Mind posted, evolving into the next idea with the next steps. The previous 2 snapshots provided a very clear bias (the short followed by the long), but now I find myself in the situation where I am looking for 2 potential scenarios which I would consider to be intriguing if the price...
GBPJPY signaling a trendless market. Similarly the RSI continues to hover around confirming the current indecisiveness of market participants. More importantly, the stochastic oscillator is trying to edge above its moving average, but such a move needs to pick up pace in order to be seen as a strong signal
In recent trading sessions, the GBP/JPY pair has embarked on a notable bullish trajectory, diverging from our previously envisioned bearish scenario. This shift in sentiment is evidenced by a series of bullish candles, signaling a resurgence in buying pressure. The pair has retraced to the pivotal zone around 192.200 - 192.500, where a convergence of technical...
Always teh same pattern. Looking for liquidity to push the price down. JPY fundamentals. Risk managment at 1:2
Currently, the GBP/JPY pair is signaling a selling opportunity as it hovers around the 192.11 mark. This indicates a potential downward movement in the pair's value. Traders could consider setting multiple take-profit levels to capitalize on various price points, such as at 191.50, 191.30, and 190.50, to secure profits as the pair declines. Meanwhile, it's...
The current buy zone for GBPJPY is at 190.65, indicating a potential entry point for traders looking to initiate a long position. This level suggests a favorable opportunity for buyers to enter the market and capitalize on potential upward movement in the currency pair. Additionally, setting take profit levels at 191.00, 191.50, and 192.00 allows traders to lock...
Additionally, the rising tension between Israel and Iran heightens concerns of a wider conflict in the Middle East, providing some support to safe-haven currencies like the Japanese Yen (JPY) and creating a headwind for the GBP/JPY cross. The latest data from the Office for National Statistics showed on Friday that UK Retail Sales arrived at 0% MoM in March from...
GBP/JPY was largely flat on Thursday, trading slightly below trendline resistance at 192.70. Bears need to protect this ceiling tooth and nail; any lapse could spark a move towards the 2024 highs at 193.55. On further strength, a jump towards the psychological 195.00 mark cannot be ruled out. On the other hand, if the pair gets rejected from its current position...
GBPJPY is currently at the pivot, aligning with the 78.6% Fibonacci retracement and could potentially fall to the support level. Alternatively, if the price breaks above the pivot, it could continue to rise to the next resistance level Pivot: 192.12 Support: 191.28 Resistance: 192.83 Risk Warning: Trading Forex and CFDs carries a high level of risk to your...
Pivots are the most significant indicator for how I trade. I cannot understand why EVERY trader, no matter what their approach is, wouldn't use weekly pivots. The beauty of pivots is that they are the ONLY indicator that is set at the start of the week so you know where the price is in relation to the pivot days before the price gets there. This week on GBP/JPY...
#GBPJPY UPDATE Hey team we are to update about GBPJPY. GBPJPY is making rising Wedge Pattern.we can see here a good drop in price. War is effecting the whole market badly. Trade carefully with proper risk management
Based on the M30 chart analysis, we can see that the price is rising toward our sell entry at 192.02, which is an overlap resistance. Our take profit will be at 190.84, an overlap support level. The stop loss will be placed at 192.01, a multi swing-high resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk...