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GBP/JPY Daily Outlook
Daily Pivots: (S1) 135.45; (P) 135.91; (R1) 136.39;
Intraday bias in GBP/JPY remains on the upside for the moment and current rally is expected to continue to next key resistance level at 140.02. On the downside, below 134.22 minor support will turn bias neutral and bring retreat. But break of 132.44 resistance turned support is needed to signal short term topping. Otherwise, we'll stay bullish in the cross.
In the bigger picture, at this point, we'd like to maintain that price actions from 116.83 (2011 low) are corrective in nature so far. Rise from 118.82 could be the third leg of the pattern from 116.83 and is still in progress. After all, the likely scenario is that we'll see more range trading between 116.83 and 140.02 (50% retracement of 163.05 to 116.83 at 139.94) ahead, before an eventual downside breakout. We'll favor this view as long as 140.02 resistance holds. Nonetheless, sustained break of 140.02 will indicate that rise from 116.83 is at least a move at the same degree as fall from 163.05 and thus stronger medium term rise would then be seen back to this level.
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Time Frame- H1
analysis with stoch and price chart- stoch indicator is ging buy singnal with cross out.
if we look in the price chart we see that price will bounce from the support level 135.80 the up movement will continue and price will try to hit its next support at 136.85
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On the hourly chart, price is above the 12 EMA (white) and 72 EMA (blue) indicates the trend is still up
21 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Take profit: 137.28
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time frame- H1
here the resistance level is 137.11 is trying to rejected the price and at the same time stoch is trying to come out from the over bought level. may be today we can see some down side movement. trading is accepting after breaking the support point at 136.20 and can hod till 135.75
Resistance 3- 138.28
Resistance 2- 137.52
Resistance 1- 137.11
Pivot point- 136.40
Support 1- 135.99
Support 2- 135.28
Support 3- 134.87
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i have always been loving the flow with gbp/jpy reason being they have the best trend in the market and i think with this kind of trading things might become a little more exiting.
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A bearish reversal is expected after GBPJPY rejected by resistance level 1373.16. The pair is now start to fall, and it may goes down back to its daily pivot at 136.46. A breakout to the pivot may cause the pair fall further to 136.08 or lower.
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Support: 135.41
Pivot: 136.51
Resistance: 137.60
trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel buy
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands buy
Technical Analysis For GBPJPY 100% Buy
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GBP/JPY Daily Outlook
Daily Pivots: (S1) 136.12; (P) 136.52; (R1) 137.21;
GBP/JPY's rally extends further to as high as 137.14 so far today and intraday bias remains on the upside. As noted before, current rally from 118.82 is expected to continue to test 140.02 key resistance level next. On the downside below 135.82 minor support will turn bias neutral and bring consolidations But break of 132.44 resistance turned support is needed to indicate reversal. Otherwise, outlook remains bullish.
In the bigger picture, at this point, we'd like to maintain that price actions from 116.83 (2011 low) are corrective in nature so far. Rise from 118.82 could be the third leg of the pattern from 116.83 and is still in progress. After all, the likely scenario is that we'll see more range trading between 116.83 and 140.02 (50% retracement of 163.05 to 116.83 at 139.94) ahead, before an eventual downside breakout. We'll favor this view as long as 140.02 resistance holds. Nonetheless, sustained break of 140.02 will indicate that rise from 116.83 is at least a move at the same degree as fall from 163.05 and thus stronger medium term rise would then be seen back to this level.
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Gbp-jpy
as expected this pair making a strong bearish movement right after the news release yesterday......and the support line has been broke by yesterday move but becareful i think this pair is nearing the low and the major revesal will happen soon.....watchout at 129 - 128 area to enter long next week.........
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GBP/JPY Mid-Day Outlook
Daily Pivots: (S1) 136.12; (P) 136.52; (R1) 137.21;
GBP/JPY soars to as high as 137.86 so far today and intraday bias remains on the upside for the moment. Current rally from 118.82 is expected to continue to test 140.02 key resistance level next. On the downside below 136.40 minor support will turn bias neutral and bring consolidations But break of 132.44 resistance turned support is needed to indicate reversal. Otherwise, outlook remains bullish.
In the bigger picture, at this point, we'd like to maintain that price actions from 116.83 (2011 low) are corrective in nature so far. Rise from 118.82 could be the third leg of the pattern from 116.83 and is still in progress. After all, the likely scenario is that we'll see more range trading between 116.83 and 140.02 (50% retracement of 163.05 to 116.83 at 139.94) ahead, before an eventual downside breakout. We'll favor this view as long as 140.02 resistance holds. Nonetheless, sustained break of 140.02 will indicate that rise from 116.83 is at least a move at the same degree as fall from 163.05 and thus stronger medium term rise would then be seen back to this level.
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