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Feb 09 16:41 GMT
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Action Insight: GBPJPY Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



GBP/JPY Mid-Day Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Feb 09 12 14:02 GMT
Intraday bias in GBP/JPY remains neutral for the moment and more consolidations could be seen below 122.85 temporary top. But retreat is expected to be contained well above 119.58 support and bring another rise. Above 122.85 will extend the rally from 117.29 towards 100% projection of 117.29 to 122.04 from 119.58 at 124.33. Also, note again that such rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83 and might take on 127.30 resistance eventually.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Feb 08 12 07:20 GMT
GBP/JPY's strong break of 122.04 resistance confirmed resumption of whole rebound from 117.29. Intraday bias is back on the upside and current rally should target 100% projection of 117.29 to 122.04 from 119.58 at 124.33 next. Also, note again that such rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83 and might take on 127.30 resistance eventually. On the downside below 121.88 minor support will turn bias neutral and bring retreat. But near term outlook will stay bullish as long as 119.58 support holds.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Feb 07 12 06:30 GMT
GBP/JPY's recovery from 119.58 is still in progress and intraday bias remains mildly on the upside for 122.04 resistance. Break will resume rebound from 117.29 for 122.76 first. Also, as noted before, rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83. Break of 122.76 will target a test on 127.30 key resistance. On the downside below 120.22 will turn bias neutral again. Also, note that break of 119.19 will indicate completion of the rebound and flip bias back to the downside for 117.29 instead.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Feb 06 12 08:40 GMT
Intraday bias in GBP/JPY is mildly on the upside for further rise to 122.04 resistance. Break will resume rebound from 117.29 for 122.76 first. Also, as noted before, rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83. Break of 122.76 will target a test on 127.30 key resistance. On the downside below 120.22 will turn bias neutral again. Also, note that break of 119.19 will indicate completion of the rebound and flip bias back to the downside for 117.29 instead.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Feb 04 12 05:42 GMT
GBP/JPY's pull back from 122.04 was contained at 119.58 last week and recovered. With 119.19 minor support intact, rise from 117.29 is still in progress. Initial bias is mildly on the upside this week for 122.04 first. Break will confirm rise resumption for 122.76 resistance. Also, as noted before, rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83. Break of 122.76 will target a test on 127.30 key resistance. On the downside below 120.22 will turn bias neutral again. Also, note that break of 119.19 will indicate completion of the rebound and flip bias back to the downside for 117.29 instead.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Feb 03 12 06:55 GMT
Intraday bias in GBP/JPY remains neutral. But again, rebound from 117.29 is still in favor to continue with 119.19 minor support intact. Rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83. Above 122.04 will bring another rise towards 127.30 resistance. Nonetheless, break of 119.19 will indicate completion of the rebound and flip bias back to the downside for 117.29 instead.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Feb 02 12 06:55 GMT
GBP/JPY's pull back from 122.04 was contained at 119.58 and recovered. More sideway trading might be seen. But again, rebound from 117.29 is still in favor to continue with 119.19 minor support intact. Rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83. Above 122.04 will bring another rise towards 127.30 resistance. Nonetheless, break of 119.19 will indicate completion of the rebound and flip bias back to the downside for 117.29 instead.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Feb 01 12 08:36 GMT
More consolidations could be seen below 122.04 temporary low. But again, rebound from 117.29 is still in favor to continue with 119.19 minor support intact. Rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83. Above 122.04 will bring another rise towards 127.30 resistance. Nonetheless, break of 119.19 will indicate completion of the rebound and flip bias back to the downside for 117.29 instead.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Jan 31 12 07:23 GMT
Intraday bias in GBP/JPY remains neutral. As noted before, rebound from 117.29 is still in favor to continue with 119.19 minor support intact. Rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83. Above 122.04 will bring another rise towards 127.30 resistance. Nonetheless, break of 119.19 will indicate completion of the rebound and flip bias back to the downside for 117.29 instead.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Jan 30 12 07:06 GMT
Intraday bias in GBP/JPY remains neutral for the moment but another rise is still mildly in favor with 119.19 minor support intact. As noted before, rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83. Above 122.04 will bring another rise towards 127.30 resistance. Nonetheless, break of 119.19 will indicate completion of the rebound and flip bias back to the downside for 117.29 instead.
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