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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 | Dec 17 14 02:45 GMT
No change in GBP/JPY's outlook. While correction from 189.70 might extend, we'd continue to expect strong support from 181.09, 38.2% retracement of 168.01 to 189.70 at 181.41, to contain downside and bring rebound. Above 187.04 will turn bias to the upside. But break of 189.70 is needed to confirm rally resumption. Otherwise, we'd expect more corrective trading in near term. Meanwhile, firm break of 181.09 will pave the way to 61.8% retracement at 176.29.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 16 14 04:09 GMT
GBP/JPY's correction from 189.70 extended lower to 183.60 so far. Deeper decline could still be seen. But at this point, we'd expect strong support from 181.09, 38.2% retracement of 168.01 to 189.70 at 181.41, to contain downside and bring rebound. Above 187.04 will turn bias to the upside. But break of 189.70 is needed to confirm rally resumption. Otherwise, we'd expect more corrective trading in near term.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 15 14 07:37 GMT
The correction from 189.70 is expected to extend lower to 184.31 and below. But at this point, we'd expect strong support from 181.09, 38.2% retracement of 168.01 to 189.70 at 181.41, to contain downside and bring rebound. On the upside, break of 189.70 is needed to confirm rally resumption. Otherwise, we'd expect more corrective trading in near term.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 13 14 09:50 GMT
GBP/JPY's fall last week indicated short term topping at 189.70. Deeper correction is expected for 184.31 ahead. But at this point, we'd expect strong support from 181.09, 38.2% retracement of 168.01 to 189.70 at 181.41, to contain downside and bring rebound. On the upside, break of 189.70 is needed to confirm rally resumption. Otherwise, we'd expect more corrective trading in near term.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 11 14 09:35 GMT
A short term top is already in place at 189.70 on bearish divergence condition in 4 hours MACD. Deeper fall should be seen to 184.31 support and below as the correction extends. At this point, we'd expect strong support from 181.09, 38.2% retracement of 168.01 to 189.70 at 181.41, to contain downside and bring rebound. On the upside, break of 189.70 is needed to confirm rally resumption. Otherwise, we'd expect more corrective trading in near term.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 10 14 02:43 GMT
The break of 187.29 support in GBP/JPY suggests that a short term top is already in place at 189.70 on bearish divergence condition in 4 hours MACD. Intraday bias is mildly on the downside for 184.31 support and below. At this point, we'd expect strong support from 181.09, 38.2% retracement of 168.01 to 189.70 at 181.41, to contain downside and bring rebound. On the upside, break of 189.70 is needed to confirm rally resumption. Otherwise, we'd expect more corrective trading in near term.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 09 14 06:13 GMT
With 187.29 minor support intact, further rise is still mildly in favor in GBP/JPY for 190 psychological level. Sustained break will target next long term fibonacci level at 199.80. Meanwhile, momentum as seen in 4 hours MACD isn't too convincing. And the cross looks overbought in daily chart. Break of 187.29 would indicate short term topping and could trigger pull back to 181.09/184.31 support zone first.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 08 14 06:33 GMT
Intraday bias in GBP/JPY remain on the upside for 190 psychological level. Sustained break will target next long term fibonacci level at 199.80. Meanwhile, momentum as seen in 4 hours MACD isn't too convincing. And the cross looks overbought in daily chart. Break of 187.29 would indicate short term topping and could trigger pull back to 181.09/184.31 support zone first.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 06 14 03:26 GMT
GBP/JPY's up trend resumed last week and reached as high as 189.70. Initial bias remains on the upside this week for 190 psychological level. Sustained break will target next long term fibonacci level at 199.80. Meanwhile, momentum as seen in 5 hours MACD isn't too convincing. And the cross looks overbought in daily chart. Break of 187.29 would indicate short term topping and could trigger pull back to 181.09/184.31 support zone first.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 05 14 03:27 GMT
GBP/JPY lost some momentum after hitting 188.23 and retreated mildly. But with 186.26 support intact, further rise is still expected in the cross to 190 psychological level. Nonetheless, considering the weak upside momentum,, break of 186.26 will argue short term topping and bring deeper correction back to 181.09/184.31 support zone.
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