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Action Insight: GBPJPY Technical Outlook

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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 04 16 09:05 GMT
Intraday bias in GBP/JPY remains on the downside for 151.64 low. The larger decline from 195.86 could be resuming and break of 151.64 will target next long term fibonacci level at 147.01. On the upside, above 156.64 will turn bias neutral first. Overall, outlook will stays bearish as long as 164.09 resistance holds and downside breakout is still expected.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 03 16 09:05 GMT
Intraday bias in GBP/JPY remains on the downside for 151.64 low. The larger decline from 195.86 could be resuming and break of 151.64 will target next long term fibonacci level at 147.01. On the upside, above 158.48 will turn bias neutral first. Overall, outlook will stays bearish as long as 164.09 resistance holds and downside breakout is still expected.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | May 02 16 03:17 GMT
Intraday bias in GBP/JPY remains on the downside for 151.64 low. The larger decline from 195.86 could be resuming and break of 151.64 will target next long term fibonacci level at 147.01. On the upside, above 158.48 will turn bias neutral first. Overall, outlook will stays bearish as long as 164.09 resistance holds and downside breakout is still expected.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 30 16 13:01 GMT
GBP/JPY failed to take out 164.09 last week and the sharp fall from 162.80 suggests that rebound from 151.64 is already finished. Initial bias remains on the downside this week for retesting 151.64 low. Break will extend larger decline from 195.86 to next long term fibonacci level at 147.01. On the upside, above 158.48 will turn bias neutral first.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 28 16 07:16 GMT
GBP/JPY's sharp fall and break of 158.36 suggests that rebound from 151.64 is completed. With 164.09 resistance intact, the larger down trend from 195.86 might still extend lower. Intraday bias is back on the downside for retesting 151.64 low first. Break will target next long term fibonacci level at 147.01.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 27 16 09:10 GMT
Intraday bias in GBP/JPY remains on the upside for 154.09 resistance first. Break of 55 days EMA and bullish convergence condition in daily MACD, are raising the prospect of trend reversal. Break of 164.09 resistance will indicate that fall from 195.86 has completed and target 38.2% retracement of 195.86 to 151.64 at 168.53. Though, break of 158.36 minor support will maintain bearish outlook and turn bias to the downside for 151.64 low.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 26 16 03:50 GMT
Intraday bias in GBP/JPY remains on the upside for 154.09 resistance first. Break of 55 days EMA and bullish convergence condition in daily MACD, are raising the prospect of trend reversal. Break of 164.09 resistance will indicate that fall from 195.86 has completed and target 38.2% retracement of 195.86 to 151.64 at 168.53. Though, break of 156.50 minor support will maintain bearish outlook and turn bias to the downside for 151.64 low.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 25 16 09:25 GMT
Intraday bias in GBP/JPY remains on the upside for 154.09 resistance first. Break of 55 days EMA and bullish convergence condition in daily MACD, are raising the prospect of trend reversal. Break of 154.09 will indicate that fall from 195.86 has completed and target 38.2% retracement of 195.86 to 151.64 at 168.53. Though, break of 156.50 minor support will maintain bearish outlook and turn bias to the downside for 151.64 low.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 23 16 14:24 GMT
GBP/JPY's strong rebound last week, break of 55 days EMA and bullish convergence condition in daily MACD, are raising the prospect of trend reversal. Initial bias is mildly on the upside this week for 154.09 resistance first. Break will indicate that fall from 195.86 has completed and target 38.2% retracement of 195.86 to 151.64 at 168.53. Though, break of 156.50 minor support will maintain bearish outlook and turn bias to the downside for 151.64 low..
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Apr 21 16 03:16 GMT
The corrective rise from 151.64 is still in progress but we'd expect strong resistance from 158.42 support turned resistance to limit upside and bring down trend resumption. Below 155.25 minor support will turn bias to the downside for 151.64 low first. Break will extend larger fall from 195.86 and target next long term fibonacci level at 147.01.
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