📊 GBPJPY 24th January 2025 Daily Analysis Based on Main Key Levels

Introduction

In the dynamic world of forex trading, particularly with GBPJPY, understanding market movements is vital. This blog provides a comprehensive analysis of GBPJPY, focusing on key support and resistance levels, along with actionable trade setups.

Current Market Overview

The current Daily Current Market Price (DCMP) for GBPJPY is 192.543.

Key Levels Summary

Resistance Levels Above DCMP (192.543)

🔺 Resistance 1: 193.145

🔺 Resistance 2: 193.421

🔺 Resistance 3: 194.558

Support Levels Below DCMP (192.543)

🟢 Support 1: 192.272

🟢 Support 2: 192.415

🟢 Support 3: 191.965

Swing Levels

📊 Swing High: 198.960

📊 Swing Low: 189.334

Trade Setup

💼 Intraday Buy Trade Setup

Entry Price: ✨ 192.272

Stop Loss: ❌ 192.000

Take Profit 1: 🎯 192.700

Take Profit 2: 🎯 193.145

Reason for Entry:

The support level at 192.272 is below the DCMP, indicating a strong buying opportunity. This level aligns with significant technical support, suggesting potential upward movement.

💼 Intraday Sell Trade Setup

Entry Price: ✨ 193.145

Stop Loss: ❌ 193.500

Take Profit 1: 🎯 192.700

Take Profit 2: 🎯 193.421

Reason for Entry:

The resistance level at 193.145 is just above the DCMP, providing a viable selling opportunity. This level coincides with key technical resistance, indicating potential downward movement.

Analysis Summary

Resistance and Support Levels: Key levels indicate potential reversal zones. Resistance levels are at 193.145, 193.421, and 194.558. Support levels are at 192.272, 192.415, and 191.965.

Swing Levels: The Swing High is at 198.960, and the Swing Low is at 189.334.

Pivot Levels: The pivot level is at 192.693, providing additional context for potential reversals.

Fibonacci Levels: Significant retracement and extension levels align with the identified support and resistance zones.

RSI Divergence: Indicates potential overbought conditions at resistance levels and oversold conditions at support levels.

MACD Crossing: Suggests bullish momentum at support levels and bearish momentum at resistance levels, confirming trade setups.

Conclusion

This analysis equips traders with essential insights and key levels to navigate the GBPJPY market effectively. With the current market price at 192.543, traders can leverage the outlined support and resistance levels, along with technical indicators, to make informed trading decisions. Stay tuned for further updates and analyses!