Gbp/Jpy

[santiika]

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.

[genjer fx]

GBP / JPY is trading back near the top of the range weekly, last recorded at around 136.20 while the pair is moving sideways in a range between 135.42 and 136.30, ready for 2012 recorded an increase of 14% at current levels. However, there may be room for a bearish correction "Using Fibonacci retracement tool, we see that the pair could find support at around the previous high around 132.30 which coincides well with the 38.2% Fib level," said ********.com FX-Men Team. "But, if there are enough bulls in the market, we may not even see the pullback of this couple. Closing in on a high yesterday could mean that GBP / JPY is heading to 140.00. "

If the upward momentum continues, the rate of 137.00 (height 28 April 2011) was recorded as the next key resistance and then 137.70 (August 3, 2010 high) and 140.00 (high 8 April 2011). Up there, 50-month EMA at 141.40 is likely to attract an offer.

Support: 136.1487
, 136.1093
, 136.0587
Resistance: 136.3287
, 136.2893
, 136.2387

[forexking2]

This pair on still look sideways. On my see if the price can break that strong resistance 136.36 .make search again for buy OP is better. But, on other look as long as the price still move bellow that resistance 136.36 .

[yudijoni]

Upward trend chasing GBPJPY 136.35, if the opportunity to harass translucent FEN 61.8% (136.69), and FEN 100% (137.48). FEN optimal target towards 161.8% (138.75). If 136.35 survive then corrected price will be met with initial support 135.81, and 135.45. Strong Support, 135.02. Psychological support, 134.29. Areas for consideration buy are: 135.45 and 135.02. Areas for consideration sell are: 136.69; 137.48 and 138.75. reference Fibo extension up from a point 134.29 towards 136.35 and 135.45

[sheila]

Support: 134.97
Pivot: 135.89
Resistance: 136.80

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

[hamza661]

jbp/jpy pair cannot break the Resistance level 136.15 and bounces from it. Currently it is testing the Support level 135.40. Given that the pair fails to break it and continues its upward trend and manages to break the Resistance level 136.15, we will get a good opportunity to buy enabling the Resistance level of 136.85 as the level target. Then we should wait for breaking this Resistance level to continue the upward move and open the way towards the Resistance level of 137.50.
On the other hand, if the pair fails to break the Resistance level of 136.15 and bounces from it, it may reverse the bullish move taking a downward move which will enable the Support level of 135.40. Then we should wait for breaking this Support level in order to get new bearish signals. In case the pair is able to break the Support level and closes 4H below, we will get a bearish strength providing new sell signals which will enable the Support level of 134.80 as a level target. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level of 136.15 is unbroken, the downward move is still expected invalidating the bullish outlook. Therefore, we should wait for more confirmations before making the decision.

[winstead]

GBPJPY has broken the strong resistance at 133.49. Another resistance can be found at 137.06. Highest new is bullish. However, overbought conditions generally favor the short-term phase of weakness. GBPJPY also has broken the long-term declining trendline. Breakout is indicated for the long-term strengthening further. The next major resistance is at 140.03.

[fanikakkoo]

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

[santiika]

GBP/JPY Weekly Outlook

GBP/JPY's rally extended to as high as 135.40 last week and broken 133.48 resistance. There is no sign of topping yet and initial bias remains on the upside this week. Current rally would now target a test on 140.02 key resistance level. 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 might target 133.48 and above. 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.

In the longer term picture, fall from 251.09 is treated as resumption of multi decade down trend. Current development gives no indication of medium term reversal yet and GBP/JPY would likely drop towards 100 psychological level on down trend resumption. But sustained break of 140.02 will be a strong indication that 116.83 is at least an important long term bottom.

---------- Post added at 04:09 PM ---------- Previous post was at 02:31 PM ----------

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.40; (P) 134.90; (R1) 135.50;

GBP/JPY jumps further to as high as 136.37 so far today and intraday bias remains on the upside. As 133.48 resistance was already firmly taken out, rise from 118.82 should now target 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.

[erespe]

All JPY pair experienced gap today, and so GBPJPY. I think there is only one way for today, gap closing. So it is possible the pair will likely fall towards 134.87