Gbp/Jpy

[pritishahfx]

GBP/JPY Technical Strategy: Flat
Support: 180.18, 178.39, 177.28
Resistance: 181.64, 183.09, 184.88
The British Pound paused its advance against the Japanese Yen, issuing the largest decline in two weeks. Near-term resistance is at 180.64, the 50% Fibonacci retracement, with a break above that on a daily closing basis exposing the 61.8% level at 183.09. Alternatively, a push below the 38.2% Fib at 180.18 opens the door for a test of the 23.6% retracement at 178.39.
Risk/reward considerations argue against entering short with prices in close proximity to support. On the other hand, the absence of a defined bullish reversal signal suggests taking up the long side is premature. We will remain flat for now, waiting for a more actionable opportunity to present itself.

---------- Post added at 08:02 PM ---------- Previous post was at 07:31 PM ----------

The pair failed to break above 181.40 so far, and is showing a slight bearish bias affected by the negativity of RSI and MACD, but Linear Regression Indicators are still positive so we favor the upside move in the coming period, while breaching 181.40 pushes the pair towards 184.55 mainly. The bullish extension depends on stabilizing above 178.85.

---------- Post added at 08:06 PM ---------- Previous post was at 08:02 PM ----------

Support 180.25 179.90 178.85 177.85 177.50
Resistance 181.40 181.80 182.85 183.70 184.55
Recommendation
Positive expectations above 181.40, risk-limit below 180.25.

---------- Post added at 08:15 PM ---------- Previous post was at 08:06 PM ----------

With the recent leap into the pair prices, the horizontal support turned resistance, at 181, comes again into play and a possible break of the same can be expected considering the GBP strength and a steady rise of RSI. Should it closes above 181, the pair can immediately rally towards 182.30 before testing the 23.6% Fibonacci Retracement of its October � December 2014 up-move, near 184.50, with 183.30 could provide intermediate resistance to the pair. Given the pair becomes unable to close above 181, 100-day SMA, near 180.30 is likely immediate support for the pair, breaking which 178.80 � 178.75, encompassing 50% Fibo, is likely support before the pair falls to 61.8% Fibo. near 176.30 support.

[ng1985]

pair- gbp/jpy
time frame to analysis- m15



the up movement of the price has been break the resistance trend line and above 181.00 level but now rejecting from resistance at 182.00 level with making doji patterns. the rsi is moving to the level 50 side. short with profit target at 181.23 and stop loss at 182.57
good luck

[pritishahfx]

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.

[Gamabunta]

I think that after breaking the resistance level at 181.75, we can get in long position with take profit at 182.94.

[pritishahfx]

The pair touched the first main target 181.40 and stabilized around it, as Linear Regression Indicators still provides positive signals that support extending bullishness, whereas the next targets extend to 184.55. Therefore, the upside move is expected as long as the pair is stable above 178.85.

Support 180.80 180.25 179.90 178.85 177.85
Resistance 181.40 181.80 182.85 183.70 184.55
Recommendation
Positive expectations above 181.40, risk-limit below 180.25.

---------- Post added at 04:54 AM ---------- Previous post was at 12:50 AM ----------

GBP/JPY Daily Outlook

Daily Pivots: (S1) 180.09; (P) 180.94; (R1) 182.35

4H

GBP/JPY lost some upside momentum as seen in 4 hours MACD. But with 179.29 minor support intact, further rise is mildly in favor for 187.79/189.70 resistance zone. We'd expect strong resistance from there to bring reversal. Meanwhile, below 179.29 minor support will turn bias back to the downside for 175.49.

---------- Post added at 04:57 AM ---------- Previous post was at 04:54 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.

---------- Post added at 02:37 PM ---------- Previous post was at 04:57 AM ----------

GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 180.09; (P) 180.94; (R1) 182.35

4H

GBP/JPY's rebound from 175.49 resumes after brief retreat and intraday bias remains on the upside. Current rise would target a test on 187.79/189.70 resistance zone. We'd expect strong resistance from there to bring reversal. Meanwhile, below 180.15 minor support will turn bias back to the downside for 175.49.

[ducd3vaizo]

Daily Forecast

Pair: GBPJPY
Major Trend: Bearish
Time Frame: H1
Reason: It appears that the market is not able to penetrate the first support area at 180.13 and predictable, the market is still going to 181.82, even more.
Recommendation: Buy now with a target of 181.82

[ishvara]

I have spotted a retracement in this GBP/JPY pair, along with a signal from Ichimoku Kijun Break. I have taken a buy order to be held till this current week ends.

[pritishahfx]

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.

[Gamabunta]

I think that we can get in long position from the 61.8 level of fibonacci ratios at 180.45 with take profit at 181.78.

[pritishahfx]

Weekly
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.

---------- Post added at 09:15 AM ---------- Previous post was at 07:38 AM ----------

4H

Daily Pivots: (S1) 180.09; (P) 180.94; (R1) 182.35

Intraday bias in GBP/JPY remains mildly on the upside for the moment. Fall from 189.70 has possibly completed at 175.49. Rise from there would target 187.79/189.70 resistance zone. We'd expect strong resistance from there to bring reversal. Below 179.29 minor support will turn bias back to the downside for 175.49.