Gbp/Jpy

[pritishahfx]

GBP/JPY Technical Analysis: Candle Setup Hints at Rebound



Talking Points:

• GBP/JPY Technical Strategy: Flat
• Support: 182.81, 181.46, 180.14
• Resistance: 183.67, 186.18, 187.31

The British Pound may be readying to launch a recovery against the Japanese Yen after prices put in a Bullish Engulfing candlestick pattern. Near-term resistance is at 183.67, the 23.6% Fibonacci expansion, with a break above that on a daily closing basis exposing the 38.2% level at 185.06. Alternatively, a turn below the 14.6% Fib at 182.81 clears the way for a challenge of a horizontal pivot at 181.46.
Risk/reward considerations argue against entering long with prices in close proximity to resistance. On the other hand, the absence of a defined bearish reversal signal suggests taking up the short side is premature. We will remain flat for now, waiting for a more actionable opportunity to present itself.

[ducd3vaizo]

Daily Forecast

Pair: GBPJPY
Major Trend: Bearish
Time Frame: H1
Reason: Market experienced a bearish correction only to arrive at 181.99. Then it will go up again, penetrating 184.05
Recommendation: Buy limit at 181.99, or sell with a target of 181.99

[pritishahfx]

GBP/JPY Daily Outlook

Daily Pivots: (S1) 181.97; (P) 182.78; (R1) 184.05

The strong recovery in GBP/JPY and break of 183.69 minor resistance dampened the bearish case. Intraday bias is back on the upside for 184.99 resistance first. Break will extend the rebound from 175.49 to 187.79/189.70 resistance zone. We'd expect strong resistance from there to bring reversal. On the downside, below 181.46 will turn bias back to the downside for 175.49 support.

In the bigger picture, the up trend from 116.83 lost much medium term momentum with bearish divergence condition seen in weekly MACD. Medium term top could be around the corner, if not formed. Break of 168.01 support will confirm this bearish case and bring deeper correction. Though, as long as 168.01 holds, the up trend could still extend to 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to 200 psychological level.

[ng1985]

pair- gbp/jpy
time frame to analysis- m15



the rsi indicator is moving below the level 30 and showing oversold. in the price chart its also break the daily pivot support at 182.78 level. this down movement is continue to the lower support at 182.00. hold the short entry with stop loss at 182.90
good luck

[pritishahfx]

GBP/JPY Daily Outlook

Daily Pivots: (S1) 181.00; (P) 182.12; (R1) 182.77

Intraday bias in GBP/JPY remains on the downside for the moment. Rebound from 175.49 has completed at 184.99 already. Deeper decline would be seen to 175.49 support. Break would extend the fall from 189.70 to 168.10 key support level next. On the upside, above 183.69 minor resistance will turn bias back to 184.99 resistance instead.

In the bigger picture, the up trend from 116.83 lost much medium term momentum with bearish divergence condition seen in weekly MACD. Medium term top could be around the corner, if not formed. Break of 168.01 support will confirm this bearish case and bring deeper correction. Though, as long as 168.01 holds, the up trend could still extend to 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to 200 psychological level.

[kelvin566]

the market is in uptrend and its trading into equidistant chanel the price found support at the level 178.44 which represent a support the thecnical indicator shows that there is a move to the up side of the channel target 189.95

[pritishahfx]

GBP/JPY Weekly Outlook

GBP/JPY's breach of 181.65 minor support last week argues that the rebound from 175.49 has completed at 184.99 already. Initial bias is back on the downside this week for 175.49 support. Break would extend the fall from 189.70 to 168.10 key support level next. On the upside, above 183.69 minor resistance will turn bias back to 184.99 resistance instead.

In the bigger picture, the up trend from 116.83 lost much medium term momentum with bearish divergence condition seen in weekly MACD. Medium term top could be around the corner, if not formed. Break of 168.01 support will confirm this bearish case and bring deeper correction. Though, as long as 168.01 holds, the up trend could still extend to 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to 200 psychological level.

In the longer term picture, the up trend from 116.83 long term bottom is still in progress. Current rise could likely at lease have a test on 61.8% retracement of 251.09 to 116.83 at 199.80 in medium term. Break of 168.01 will bring deeper correction first.

[zxcvb]

The price of the pair moves starting from the wave (185.03) It is noted that the limits of the main trend line drawn for this wave along the between-level (183.44) and (183.62 is worth mentioning that the current wave goal access to the area (182.62)

[pritishahfx]

GBPJPY fluctuates negatively- analysis- 6/3/2015

The GBPJPY pair settles near the moving average 55 to form a clear stability below the broken support level, to get the required negative momentum for achieving the bearish correctional targets, therefore, we will keep the bearish suggestion valid, and we wait the price to reach the first target located almost at 181.50, noting that surpassing the initial target will open the way toward achieving 178.85 level.

Stochastic settles currently below 50 level, to notice its attempt to form a new bearish wave to support gaining a new negative momentum, which allows it to resume the bearish attempts until achieving the previously waited targets.

Expected trading range is between 183.50 and 181.50.

Expected trend for today: bearish.

[zxcvb]

The price of the pair moves starting from the wave (185.03) It is noted that the limits of the main trend line drawn for this wave along the between-level (183.66) and (184.20 is worth mentioning that the current wave goal access to the area (181.70).

---------- Post added 03-06-2015 at 01:23 PM ---------- Previous post was 03-05-2015 at 07:35 PM ----------

The price of the pair moves starting from the wave (185.03) It is noted that the limits of the main trend line drawn for this wave along the between-level (183.44) and (183.62 is worth mentioning that the current wave goal access to the area (182.62)