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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 Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 24 14 03:49 GMT
The breach of 171.45 minor support suggest that the rebound from 169.50 is completed at 172.78 already. Intraday bias is mildly on the downside for 169.50 support. Overall, price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Break of 169.50 will suggest that the third leg of the consolidation has started and would target 167.77 support and below. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 23 14 02:15 GMT
No change in GBP/JPY's outlook. While further rally cannot be ruled out, strong resistance would likely be seen at 173.14 to limit upside to bring reversal. Overall, price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Below 171.49 minor support will turn bias to the downside. Break of 169.50 will suggest that the third leg of the consolidation has started and would target 167.77 support and below. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 22 14 01:28 GMT
GBP/JPY edged higher to 172.49 but lost some upside momentum. While further rally cannot be ruled out, strong resistance would likely be seen at 173.14 to limit upside to bring reversal. Overall, price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Below 171.49 minor support will turn bias to the downside. Break of 169.50 will suggest that the third leg of the consolidation has started and would target 167.77 support and below. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 17 14 07:03 GMT
GBP/JPY's rebound from 169.50 extended to as high as 172.10 but stays in range. Intraday bias remains neutral first. Overall outlook is unchanged too. Price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Below 169.50 will bring another fall and break of 167.77 will revive the case that such second leg has completed and will turn outlook bearish for 163.87 and below, as the third leg. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 16 14 03:41 GMT
Intraday bias in GBP/JPY remains neutral for some more consolidation above 169.50 temporary low. Overall outlook is unchanged. Price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Below 169.50 will bring another fall and break of 167.77 will revive the case that such second leg has completed and will turn outlook bearish for 163.87 and below, as the third leg. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 15 14 04:03 GMT
A temporary low is formed at 169.50 in GBP/JPY and intraday bias is turned neutral first. Overall outlook is unchanged. Price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Below 169.50 will bring another fall and break of 167.77 will revive the case that such second leg has completed and will turn outlook bearish for 163.87 and below, as the third leg. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 14 14 08:05 GMT
Intraday bias in GBP/JPY remains mildly on the downside for 167.77 support. As noted before, price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Break of 167.77 will revive the case that such second leg has completed and will turn outlook bearish for 163.87 and below, as the third leg. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 12 14 03:21 GMT
GBP/JPY's decline from 173.14 extended lower last week and initial bias remains mildly on the downside this week for 167.77 support. As noted before, price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Break of 167.77 will revive the case that such second leg has completed and will turn outlook bearish for 163.87 and below, as the third leg. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 11 14 02:50 GMT
GBP/JPY dips to 169.97 so far as fall from 173.14 resumes. Intraday bias is mildly on the downside for 167.77 support. As noted before, price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Break of 167.77 will revive the case that such second leg has completed and will turn outlook bearish for 163.87 and below, as the third leg. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 10 14 04:25 GMT
A temporary low is in place at 170.01 and intraday bias is turned neutral first. As noted before, price actions from 174.84 are viewed as a consolidation pattern with rebound from 163.87 as the second leg. Break of 167.77 will revive the case that such second leg has completed and will turn outlook bearish for 163.87 and below, as the third leg. Above 173.14 will extend the second leg but we'd expect strong resistance from 174.84 to bring reversal to extend the consolidation pattern.
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