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British Pound / Japanese Yen

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GBPJPY trade ideas

GBPJPY Is Bullish! Long! Here is our detailed technical review for GBPJPY. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 196.848. Considering the today's price action, probabilities will be high to see a movement to 199.032. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBP/JPY H1 Analysis – OB Bearish and Bullish Scenarios This chart outlines a potential price reaction for GBP/JPY on the H1 timeframe based on **Order Blocks (OB)** and possible market scenarios: ### Key Zones: 1. **OB Bearish Zone (196.750 - 197.000):** - This is a key **supply zone** where sellers may dominate. If price moves into this area, it could trigger bearish momentum, leading to a reversal. 2. **OB Bullish Zone (195.750 - 196.000):** - This is a **demand zone** where buyers are expected to step in. Price entering this zone could initiate a bullish push back toward higher levels. --- ### Possible Scenarios: 1. **Bullish Rejection from OB Bullish Zone:** - If the price reaches the OB Bullish Zone, we expect a possible **bounce upward** toward the OB Bearish Zone. - **Validation:** Price forms bullish rejection candles (e.g., pin bar or engulfing patterns). - **Target:** The OB Bearish Zone around 196.750-197.000. 2. **Bearish Continuation from OB Bearish Zone:** - If the price hits the OB Bearish Zone after a bullish retracement, we anticipate a **rejection** and downward continuation. - **Validation:** Price forms bearish reversal patterns in the OB Bearish Zone. - **Target:** Break below the OB Bullish Zone, extending to lower support levels. 3. **Direct Breakdown Below OB Bullish Zone:** - If the price fails to hold in the OB Bullish Zone, it could lead to a **bearish breakout** toward deeper support levels. - **Validation:** Price closes strongly below the OB Bullish Zone. - **Target:** Lower levels around 194.500 or further down. --- ### Notes: - Monitor candlestick patterns and volume near the key zones to confirm entries. - Be cautious of **false breakouts**; wait for clear confirmation before entering trades. - Use stop-loss levels just below/above the zones to manage risk effectively.
by foureyescoder
BEARISH GBPJPYThe GBP/JPY pair is currently exhibiting a bearish outlook as sellers seem to gain momentum, capitalizing on recent market dynamics. Here's a comprehensive breakdown of the pair's bearish sentiment based on current trading conditions. 1. Technical Analysis Trend & Price Action The pair has been trading within a descending channel, signaling a continuation of bearish momentum. Recent price action shows multiple failed attempts to break above key resistance zones, reinforcing the dominance of sellers. GBP/JPY is currently flirting with key support levels, and a decisive break below could trigger further downside. 2. Fundamental Drivers Pound Weakness: Recent UK economic data has been underwhelming, including weak growth figures and declining retail sales. This has weighed heavily on the pound, reducing its appeal. The Bank of England’s dovish tone regarding future rate hikes amid signs of an economic slowdown adds further bearish pressure on GBP. Yen Strength: While the Bank of Japan (BoJ) remains accommodative, recent interventions and speculation of further action to strengthen the yen have bolstered the currency. Geopolitical uncertainties and global risk-off sentiment have increased demand for the yen as a safe-haven asset.
Short
by AndyFrenzy
GBPJPY Will Go Up From Support! Long! Please, check our technical outlook for GBPJPY. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 194.719. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 196.745 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
General outlook GBPJPY General outlook GBPJPY Support levels are now located at 190.800 and 188.700. If the pair rebounds from the support level, analysts recommend opening a Buy order with a take profit at the nearest resistance level. In case the breakout is confirmed, analysts suggest opening a Sell order. Now, the resistance level is located at 193.600. The upcoming news will not influence your orders within the mentioned period. Some traders may close their positions on Friday, which can add more pressure to the market.
Long
by FOREXxADVISOR
GBPJPYGeneral outlook GBPJPY has been trading in a bullish trend within the last day. Support levels are now located at 191.150 and 188.700. Now, the resistance level is located at 193.600. If the pair rebounds from the resistance level, analysts recommend opening a Sell order with a take profit at the nearest support level. In case the breakout is confirmed, analysts suggest opening a Buy order. The upcoming news will not influence your orders within the mentioned period.
Short
by FOREXxADVISOR