Gbp/Jpy

[ng1985]

pair- gbp/jpy
time frame to analysis- m15



the price is making double top chart pattern having resistance at 183.55 and nick line of the support at 182.80 level that is break but price is not able to move below the 182.55 and again up up side. hold the short entry with stop loss at 183.60
good luck

[pritishahfx]

GBP/JPY Daily Outlook

Daily Pivots: (S1) 182.04; (P) 182.84; (R1) 184.04

4H

Intraday bias in GBP/JPY stays neutral for the moment. Above 184.19 will bring further rise to 187.79/189.70 resistance zone. We'd expect strong resistance from there to bring reversal. Meanwhile, below 180.15 minor support will suggest that rise from 175.49 has completed and will turn bias back to the downside for this support.

---------- Post added at 09:05 AM ---------- Previous post was at 08:25 AM ----------

D1

In the bigger picture, the up trend from 116.83 is starting to lose medium term momentum again 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.

[KAUL]

analysis for today 2 / 23 / 2015

GBPJPY

Resistance : R1 183.73 R2 183.98 R3 184.18 R4 184.48
Support : S1 182.62 S2 182.37 S3 182.17 S4 181.87

Open : 183.36
High : 183.37
Low : 182.98
Range : .39 Pips
Running Price : 183.11

Strategy : SELL at the level 183.11 stop loss at the level 183.73 target take profit at the level 182.17 or at the level 181.87

[pritishahfx]

GBP/JPY Weekly Outlook

D1
GBP/JPY's recovery lost momentum last week and formed a temporary top at 184.19. Initial bias is neutral this week first. Above 184.19 will bring further rise to 187.79/189.70 resistance zone. We'd expect strong resistance from there to bring reversal. Meanwhile, below 180.15 minor support will suggest that rise from 175.49 has completed and will turn bias back to the downside for this support.

---------- Post added at 06:05 PM ---------- Previous post was at 05:53 PM ----------

weekly

In the bigger picture, the up trend from 116.83 is starting to lose medium term momentum again 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.

---------- Post added at 06:43 PM ---------- Previous post was at 06:05 PM ----------

Monthly

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.

[d5358]

GBP/JPY – 182.54


GBP/JPY – Wave 5 as well as wave (III) has possibly ended at 116.85



Sterling's rebound from 175.50 turned out to be much stronger than expected, suggesting the retreat from 189.70 top (tentatively wave v of c) has ended there (at least first leg of correction, i.e. a leg), hence consolidation would be seen with mild upside bias for a wave b kind of recovery, above 184.10-20 would extend gain to 185.00, then 186.00, however, reckon resistance at 186.85 would limit upside and another previous resistance at 187.80 would hold from here, bring further consolidation.

Our preferred count is that larger degree wave V with circle is unfolding from 251.12 with wave (I) 219.34, (II): 241.38 and wave (III) is subdivided into 1: 192.60, 2: 215.89 (23 Jul 2008) and wave 3 ended at 118.87 earlier in 2009. The correction from there to 162.60 is wave 4 which itself is a double three and is labeled as first a-b-c ended at 151.53, followed by wave x at 139.03, 2nd a ended at 162.60, 2nd b at 146.75 and 2nd c leg of wave 4 ended at 163.00. Therefore, the decline from 163.00 to 116.85 is now treated as wave 5 which also marked the end of larger degree wave (III), hence wave (IV) major correction has commenced for retracement of the wave (II) from 241.38 to 183.95-00 (50% Fibonacci retracement of the wave (II) from 241.38) but reckon upside would be limited to 190.00.

On the downside, whilst initial pullback to 182.50 and possibly 181.00-10 cannot be ruled out, reckon downside would be limited to 180.00 and bring another rebound later. A daily close below previous resistance at 179.25-30 would suggest the rebound from 175.50 has ended and bring weakness to 177.60 and later retest of said support.

Recommendation: Stand aside for this week

---------- Post added at 04:10 PM ---------- Previous post was at 04:07 PM ----------

Monthly-
The long-term downtrend from 570.99 (29 Feb 1980) is labeled as an impulsive wave with III with circle ended at 129.77 (20 Apr 1995) and the corrective rebound to 251.12 (20 Jul 2007) is treated as wave IV with circle and the wave V with circle selloff from 251.12 has possibly ended at 116.80 (almost reached our indicated target at 116.00) and major correction has commenced from there for retracement of recent downtrend to 175.00 and possibly towards 183.90-00 (50% Fibonacci retracement of 251.10-116.85) but reckon upside would be limited to 199.80-90 (61.8% Fibonacci retracement).

---------- Post added at 04:11 PM ---------- Previous post was at 04:10 PM ----------

Monthly-
The long-term downtrend from 570.99 (29 Feb 1980) is labeled as an impulsive wave with III with circle ended at 129.77 (20 Apr 1995) and the corrective rebound to 251.12 (20 Jul 2007) is treated as wave IV with circle and the wave V with circle selloff from 251.12 has possibly ended at 116.80 (almost reached our indicated target at 116.00) and major correction has commenced from there for retracement of recent downtrend to 175.00 and possibly towards 183.90-00 (50% Fibonacci retracement of 251.10-116.85) but reckon upside would be limited to 199.80-90 (61.8% Fibonacci retracement).

---------- Post added at 04:12 PM ---------- Previous post was at 04:11 PM ----------

Monthly-
The long-term downtrend from 570.99 (29 Feb 1980) is labeled as an impulsive wave with III with circle ended at 129.77 (20 Apr 1995) and the corrective rebound to 251.12 (20 Jul 2007) is treated as wave IV with circle and the wave V with circle selloff from 251.12 has possibly ended at 116.80 (almost reached our indicated target at 116.00) and major correction has commenced from there for retracement of recent downtrend to 175.00 and possibly towards 183.90-00 (50% Fibonacci retracement of 251.10-116.85) but reckon upside would be limited to 199.80-90 (61.8% Fibonacci retracement).

[pritishahfx]

GBP/JPY Technical Analysis: Key Trend Line in Focus

Talking Points:

• GBP/JPY Technical Strategy: Flat
• Support: 181.79, 180.84, 178.76
• Resistance: 184.27, 186.34, 187.79

The British Pound has stalled against the Japanese Yen following a retest the boundaries of the down trend since early December. Near-term resistance is in the 183.50-184.27 area (trend line, 61.8% Fibonacci retracement), with a break above that on a daily closing basis exposing the 76.4% at 186.34. Alternatively, a reversal below resistance-turned-support at 181.79 clears the way for a challenge of the 23.6% Fib expansion at 180.84.
Prices are too close to resistance to justify entering long from a risk/reward perspective. On the other hand, the absence of a defined bearish reversal signal suggests that taking up the short side is premature. With that in mind, we will remain flat for now.

[ducd3vaizo]

Daily Forecast

Pair: GBPJPY
Major Trend: Bullish
Time Frame: H1
Reason: It is predicted that the market will lead to a pivot point area again, at 183.45. Due to have a correction at 182.38 (61.8 Fibo). However, for the closure of the market, it is likely only get 182.84
Recommendation: Buy

[mianshabbir01]

GBPJPY Analysis & Signals 20/02/15


Order BUY ABOVE
BUY LIMIT
Buy at 181.87
Take Profit at 182.55
Stop Loss at 181.45

[pritishahfx]

GBPJPY might be forced to fluctuate to the downside- analysis- 20/2/2015

The GBPJPY continued its attempts to breach the critical resistance at 184.00, but it ends all the attempts with a clear failure due to its stability at 183.40, therefore, the continuation of the resistance stability might force the price to form a negative fluctuated bias in the near period, and to open the way towards testing 182.60 level.

Therefore, we will suggest the bearish bias, reminding you that breaching the critical resistance will cancel the negative overview, which allows the price to regain its bullish bias to rally towards achieving the previously expected positive target at 187.70.

Expected trading range is between 182.60 and 184.00

Expected trend for today: bearish if the resistance remains intact.

[Gamabunta]

The pair is still stable above 181.40, and is now confined within the positive technical pattern supports continue to rise in the coming period, and therefore, the expectations of the bullish trend continues, the next target 184.55, and will provide a break from the bullish wave to hit 187.25. On the other hand, break of 181.40 will push the price down again and go to 178.80 initially.