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British Pound / Japanese Yen

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GBPJPY trade ideas

Sell GBPJPY on ralliesThe GBP/JPY currency pair lost its shine in the Asian session on the strong yen. It hit a low of 193.55 at the time of writing and is currently trading around 194.02. The Potential Reversal Zone (PRZ) is set at 200.20. In October 2024, Japan's Consumer Price Index (CPI) showed a year-on-year inflation rate of 2.3%, down from 2.5% the previous month and slightly above the expected 2.2%. This decrease continues a trend of moderating inflation, mainly due to lower energy costs. The core CPI, which ignores fresh food, also rose by 2.3%, matching expectations but down from 2.4% in September. Overall, the core inflation rate remained steady at 2.3%. Technical Overview The GBP/JPY is trading below both short-term and long-term moving averages, which suggests a major downtrend. The immediate resistance level is at 194.35. If the price breaks this level, it could rise toward 195/196/196.25/197. Support is at 192.80 and if that fails, the price could drop to 191.75/190. Indicator Analysis The CCI and ADX indicators suggest a bearish trend. Trading Recommendation: Consider selling on rallies around 194.15-18 with SL around 195 and aim for a target price of 190.10.
Short
by adiechiii
Beautiful selling setup for GJGBP/JPY currency pair on a 4-hour timeframe, showcasing a bearish market structure. The chart highlights a "Change of Character" (ChoCh) signaling a potential shift to a bearish trend. A key selling zone is marked near the 194.30 level, with a stop-loss (SL) placed slightly above this zone to manage risk. The identified target lies significantly lower, around the 189.00 level, indicating a potential downside move. The setup suggests a short-selling opportunity within the highlighted zone, aligning with the bearish trend confirmation. Traders may find this setup useful for analyzing potential risk-reward scenarios in the market
Short
by ARSLAN_SHAHID
1
GBP/JPY Analysis - Potential Scenarios AheadIn this analysis, I highlight key support and resistance zones, along with possible market reactions. The blue zones represent significant areas of interest, where price could either bounce or break, leading to further movement. My outlook includes both bullish and bearish possibilities depending on price action and market sentiment. I’m keeping a close eye on the key levels marked and waiting for confirmation before executing trades. Let me know your thoughts or share your ideas in the comments! 🔍 Follow me for more insights and analysis!"
Long
by AEL_Education
GBPJPY Bank of Japan (BoJ) that issues statements and decides on the interest rates of the country. Its Governor is currently Kazuo Ueda. The BoJ has been applying very low interest rates for many years and even introduced a negative interest rate in January 2016, in an attempt lift consumer prices, which have been sliding for most of the past 20 years. Falling consumer prices is a concern for the country since they hurt corporate revenues and tend to stop spendings. The Japanese Consumer Price Index (CPI) is a key indicator closely monitored by traders of all JPY-related currency crosses.UK Government and its Prime Minister, Rishi Sunak who took office in October 2022, a day after becoming leader of the Conservative Party.
Long
by KingForex078
GBPJPY Set To Grow! BUY! My dear friends, Please, find my technical outlook for GBPJPY below: The instrument tests an important psychological level 193.09 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 195.03 Recommended Stop Loss - 192.17 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1