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Action Insight: GBPJPY Technical Outlook

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GBP/JPY Mid-Day Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 21 15 13:14 GMT
GBP/JPY surged to as high as 190.00 so far today and the break of 189.70 resistance indicates resumption of larger up trend. Intraday bias is back on the upside. Next target will be 100% projection of 168.01 to 189.70 from 174.86 at 196.55. On the downside, break of 185.97 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 21 15 08:19 GMT
Intraday bias in GBP/JPY remains neutral for consolidations below 188.60 temporary top. Downside should be contained by 184.45 resistance turned support and bring rally resumption. Above 188.60 will extend the rise from 174.86 to retest 189.70 high next. Though, sustained break of 184.45 will indicate short term topping and turn bias back to the downside for 180.93 support.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 20 15 10:34 GMT
Intraday bias in GBP/JPY remains neutral for consolidations below 188.60 temporary top. Downside should be contained by 184.45 resistance turned support and bring rally resumption. Above 188.60 will extend the rise from 174.86 to retest 189.70 high next. Though, sustained break of 184.45 will indicate short term topping and turn bias back to the downside for 180.93 support.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 19 15 06:36 GMT
Intraday bias in GBP/JPY remains neutral for consolidations below 188.60 temporary top. Downside should be contained by 184.45 resistance turned support and bring rally resumption. Above 188.60 will extend the rise from 174.86 to retest 189.70 high next. Though, sustained break of 184.45 will indicate short term topping and turn bias back to the downside for 180.93 support.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 18 15 12:35 GMT
Intraday bias in GBP/JPY remains neutral for consolidations below 188.60 temporary top. Downside should be contained by 184.45 resistance turned support and bring rally resumption. Above 188.60 will extend the rise from 174.86 to retest 189.70 high next. Though, sustained break of 184.45 will indicate short term topping and turn bias back to the downside for 180.93 support.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 16 15 06:21 GMT
GBP/JPY rose further to 188.60 last week but formed a temporary top there. Initial bias is neutral this week for consolidations first. Downside should be contained by 184.45 resistance turned support and bring rally resumption. Above 188.60 will extend the rise from 174.86 to retest 189.70 high next. Though, sustained break of 184.45 will indicate short term topping and turn bias back to the downside for 180.93 support.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 14 15 02:23 GMT
A temporary top is in place at 188.57 and intraday bias is turned neutral first. Some consolidation would be seen but downside should be contained by 184.45 support and bring rise resumption. Above 188.57 will target 189.70 resistance. Break will confirm up trend resumption and should target next key level at 199.80.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 13 15 04:16 GMT
GBP/JPY's rally is still in progress and reaches as high as 188.36 so far. Intraday bias remains on the upside for 189.70 resistance. Break will confirm up trend resumption and should target next key level at 199.80. On the downside, below 186.77 minor support will turn bias neutral first. But in that case, pull back should be supported by 180.93/184.45 support zone and bring rally resumption.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 12 15 09:36 GMT
GBP/JPY's rally continues to as high as 188.09 so far today. Intraday bias remains on the upside for 189.70 resistance. Break will confirm up trend resumption and should target next key level at 199.80. On the downside, below 184.56 minor support will turn bias neutral first.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 11 15 10:00 GMT
Intraday bias in GBP/JPY remains on the upside for the moment. Consolidation pattern from 189.70 has completed with three waves down to 174.86. Further rise should be seen to retest 189.70 high next. On the downside, break of 180.93 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.
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