Thread: Gbp/Jpy
GBPJPY is touching the resistance level at 132.14 now. If GBPJPY can break this resistance level and also can break the last week's high level, I think it will open a way for GBPJPY to continue the up trend today. If that happens, the next target is at around 132.95 as the next resistance level of GBPJPY.
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Hamzagoroo (2019-03-31)
The GBP/JPY pair showed serious strength on Friday as the market almost overcame the shooting star from Thursday. This is a sign that the buyers are still in control, and I do believe that the 130 level will continue to be supportive. After all, we just broke out of a 500 points consolidation area, so it makes sense that we would at least try to match that going forward.
This is a very risk sensitive currency pair, so headlines can and will move it quite rapidly. As long as things are going fairly well, this pair should continue to grind higher. I've noticed that it's somewhat parabolic, but then again all the yen related pairs are at the moment as the Bank of Japan continues to looks set to raise their inflation target to 3%. If that happens, this will devalue the Yen as they print more and more currency going forward.
I like this pair as it does tend to move quite rapidly. When you are correct in this marketplace, and you get rewarded very, very quickly. The 130 level should be the "floor" going forward, and if he gets broken to the downside, I would say all bets are off. This move has been strong, but as you can see we have built a little bit of a base just below the 130 level. This is why I like this trade so much.
Risk on/risk off
For some time, this pair used to be one of the ultimate expressions of whether or not we had a "risk on" type of day, or a "risk off" type of day. I believe we're going to start seeing this relation again as the Yen will continue to artificially weaken as the marketplaces are being manipulated yet again by the Bank of Japan. This is actually the norm for this pair, so not only am I comfortable doing this, I get to enjoy the positive swap at the end of every trading session. There is a reason why these yen related pairs tend to rise over time going back several years, and that was because it was so profitable to start buying them. I think we are about to start seeing that dynamic again. On a break of the highs from the Friday session, I am more than willing to start buying again.
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Price candle on this GBPJPY pair on look to more bulls continuation again If on today price move - the bulls candle can beak up more to the price 132.30. And yes if that happen make plan to search for buy here still better idea then.
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Support: 130.26
Pivot: 131.69
Resistance: 133.12
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 hold
Technical Analysis For GBPJPY 80% Buy
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Gbp/jpy technical analysis for 26.11.2012 by using : Auto pivot indicator.
resistance 3:134.08
resistance 2:133.16
resistance 1:132.63
pivot point :131.72
support 1:131.19
support 2:130.27
support 3:129.74
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GBPJPY is touching the resistance level at 132.14 now. If GBPJPY can break this resistance level and also can break the last week's high level, I think it will open a way for GBPJPY to continue the up trend today. If that happens, the next target is at around 132.95 as the next resistance level of GBPJPY.Spoiler:
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Scenario for today
Elliott: elongated flat correction up 133.10
It should be subject to more sell off towards 131.23 or 130.30. Corrective upward swings should face resistance around 133.41 area. A break of 133.16 is bullish.
Technical points
Key point 132.7800
Entry point 131.7900
Elliott 130.8000
Closing 132.1500
Projection 133.2800
Trendline 132.2300
Trendline 132.1300
Supports / Resistances
Res 2 133.1600
Ex-High 132.2300
Res 1 132.6500
Pivot 131.7300
Sup 1 131.2300
Ex-Low 130.8000
Sup 2 130.3000
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take a look at support at 124.90, I wait in some downward the movement today up to the opening of Session of London. After that, I think that this pair will continue its optimistic trend and can reach the level price of 125.80 and 126.00 for the maximal range.
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weekly analysis-
this pair is making a very sharp up direction up movement from last two week. but the price level 133 is offering a good resistance level. price is not able to break this level and we can see next down movement.
in day chart this pair break the resistance level 130 and price again pull back so more chance it will touch 133.00 range.
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GBP/JPY is very big and fast moving pair i only prefer to trade in in in contest account.
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