GBPJPY 29th January 2025 Daily Analysis Based on Main Key Levels

The Daily Current Market Price (DCMP) for GBPJPY stands at 193.428. Below this level, the market finds support, while above it, resistance levels come into play. Key technical indicators, including pivot levels, Fibonacci retracement, and swing highs/lows, provide a clear roadmap for potential intraday trades.

Key Levels Summary

Below DCMP (Support Levels): 192.925, 192.615, 192.115

Above DCMP (Resistance Levels): 193.926, 194.236, 194.737

Swing High: 198.960

Swing Low: 189.334

Trade Setups

Intraday Buy Trade Setup

Entry: 🎯 193.120

Stop Loss: 🛑 Below 192.115

Take Profit 1: 💰 193.426

Take Profit 2: 💰 193.926

Intraday Sell Trade Setup

Entry: 🎯 194.980

Stop Loss: 🛑 Above 194.737

Take Profit 1: 💰 193.926

Take Profit 2: 💰 192.925

Technical Analysis

Pivot Levels: The daily pivot at 193.426 acts as a crucial level for intraday bias. A break above this level could signal bullish momentum, while a break below may indicate bearish pressure.

Fibonacci Levels: Key Fibonacci retracement levels align with the support and resistance zones, providing additional confirmation for trade entries and exits.

RSI & MACD: RSI is hovering near neutral territory, suggesting a balanced market. MACD shows a potential crossover, indicating a shift in momentum.

Conclusion

The GBPJPY market is currently trading near key pivot levels, offering opportunities for both intraday buy and sell trades. Traders should monitor the identified support and resistance levels closely, alongside technical indicators, to capitalize on potential price movements.