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GBPJPY Outlook |
Written by ActionForex.com |
Feb 08 10 07:00 GMT |
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Intraday bias in GBP/JPY remains on the downside for the moment and further decline is expected to be seen towards 61.8% retracement of 118.81 to 163.05 at 135.70 next. On the upside, above 141.41 minor resistance will turn intraday bias neutral and bring consolidations. But upside should be limited below 145.26 resistance and bring another fall. |
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GBPJPY Outlook |
Written by ActionForex.com |
Feb 06 10 08:41 GMT |
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GBP/JPY dropped sharply to as low as 138.32 last week and the break of 132.26 support confirms that whole decline from 163.05 has resumed. Initial bias remains on the downside this week and further fall should be seen to 61.8% retracement of 118.81 to 163.05 at 135.70 next. On the upside, above 141.41 minor resistance will turn intraday bias neutral and bring consolidations. But upside should be limited below 145.26 resistance and bring another fall. |
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GBPJPY Outlook |
Written by ActionForex.com |
Feb 05 10 05:41 GMT |
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GBP/JPY dropped sharply overnight to a low as 139.38 before recovering slightly above 139.26 key support. At this point, intraday bias remains on the downside. Firm break of 139.26 support will confirm our bearish view that whole decline from 163.05 is resuming and should target 61.8% retracement of 118.81 to 163.05 at 135.70 next. On the upside, above 142.38 will turn intraday bias neutral and bring consolidations. But upside should be limited below 145.26 resistance and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Feb 04 10 09:09 GMT |
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With 4 hours MACD crossed below signal line, GBP/JPY's recovery from 143.04 might have completed. Break of 143.82 minor support will flip intraday bias back to the downside. Further break of 143.04 will bring fall resumption to retest 139.26 low eventually. On the upside, above 145.26 will bring another round of recovery. But still, we'd hold on to the bearish view as long as 147.25 resistance holds. That is, choppy rise from 139.26, as well as the three wave consolidation pattern from 139.69, has completed at 150.68 already. |
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GBPJPY Outlook |
Written by ActionForex.com |
Feb 03 10 07:25 GMT |
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GBP/JPY's recovery from 143.04 might still be in progress and further recovery cannot be ruled out. But after all, we'll hold on to the bearish view as long as 147.25 resistance holds. That is, choppy rise from 139.26, as well as the three wave consolidation pattern from 139.69, has completed at 150.68 already. Below 143.82 will flip intraday bias back to the downside. Further break of 143.04 will bring fall resumption to retest 139.26 low eventually. |
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GBPJPY Outlook |
Written by ActionForex.com |
Feb 02 10 05:49 GMT |
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GBP/JPY's break of 144.92 minor resistance indicates that an intraday low is in place and turn bias neutral. Some consolidation would be seen. But after all, we'll hold on to the bearish view as long as 147.25 resistance holds. That is, choppy rise from 139.26, as well as the three wave consolidation pattern from 139.69, has completed at 150.68 already. Below 143.04 will bring fall resumption to retest 139.26 low eventually. |
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GBPJPY Outlook |
Written by ActionForex.com |
Feb 01 10 06:01 GMT |
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GBP/JPY's break of 143.62 support today indicates that whole fall from 150.68 is resuming. Intraday bias remains on the downside as long as 144.92 minor resistance holds. Further fall should be seen to 141.99 support next. As noted before, choppy rise from 139.26, as well as the three wave consolidation pattern from 139.69, has completed at 150.68 already and current decline is expected to continue to retest 139.26 low eventually. On the upside, above 144.92 will turn intraday bias neutral again and bring more sideway trading. But after all, we'll hold on to the bearish view as long as 147.25 resistance holds. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 31 10 06:44 GMT |
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GBP/JPY dropped further to 143.62 last week but drew support from 61.8% retracement of 139.26 to 150.68 at 143.62 and turned recovered. Nevertheless, note that 147.25 resistance remains intact so far and hence the bearish outlook remains unchanged. That is, choppy rise from 139.26, as well as the three wave consolidation pattern from 139.69, has completed at 150.68 already. Initial bias is cautiously on the downside this week and break of 143.62 will confirm fall resumption to 141.99 support and then a retest on 139.26 low. On the upside, however, above 147.25 minor resistance will mix up the near term outlook and we'll turn neutral first in such case. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 29 10 07:17 GMT |
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Intraday bias in GBP/JPY remains neutral for the moment and some more sideway trading might be seen above 143.62. But after all, upside is expected to be limited by 147.25 resistance and bring resumption of fall from 150.68. Below 143.62 will target 141.99 support. Break there will further affirm the bearish case that whole decline from 163.05 is resuming and should bring retest of 139.26 support next. However, note that break of 147.25 will dampen this bearish view and turn focus back to 149.49/150.68 resistance zone instead. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 28 10 06:56 GMT |
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Intraday bias in GBP/JPY remains neutral for the moment and some more sideway trading might be seen above 143.62. But after all, upside is expected to be limited by 147.25 resistance and bring resumption of fall from 150.68. Below 143.62 will target 141.99 support. Break there will further affirm the bearish case that whole decline from 163.05 is resuming and should bring retest of 139.26 support next. However, note that break of 147.25 will dampen this bearish view and turn focus back to 149.49/150.68 resistance zone instead. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 27 10 15:16 GMT |
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GBP/JPY's strong recovery today suggests that an intraday low is in place at 143.62 and turns bias neutral for the moment. Nevertheless, note that upside of recovery is expected to be limited by 147.25 resistance and bring fall resumption. Below 143.62 will target 141.99 support. Break there will further affirm the bearish case that whole decline from 163.05 is resuming and should bring retest of 139.26 support next. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 27 10 07:06 GMT |
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GBP/JPY drops further to as low as 143.62 so far today and at this point, intraday bias remains on the downside for 141.99 support next. As noted before, whole sideway consolidation from 139.69 might have completed at 150.68 already and decline from 163.05 is possibly resuming. Break of 141.99 support will further affirm this bearish case and target a retest on 139.26 next. On the upside, above 144.99 minor resistance will turn intraday bias neutral and bring recovery. But upside should be limited by 147.25 resistance and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 26 10 13:49 GMT |
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GBP/JPY's break of 144.58 confirms that fall from 150.68 has resumed and the cross should now be targeting 141.99 support next. Break there will further affirm the case that consolidation from 139.69 has completed at 150.68 alrady and whole decline from 163.05 is resuming. In such case, deeper decline should be seen to retest 139.26 low next. On the upside, though, above 147.25 minor resistance will mix up the near term outlook and we'll turn neutral first in such case. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 26 10 06:25 GMT |
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GBP/JPY's recovery was limited at 147.25 and drop sharply since then. At this point, intraday bias remains neutral but another fall is still in favor. Consolidation from 139.69 should have completed at 150.68 already. Below 144.58 will target 141.99 support first. Break will affirm this bearish case and target 139.26 low next. On the upside, though, above 147.25 minor resistance will mix up the near term outlook and we'll stay neutral first in such case. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 25 10 06:59 GMT |
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GBP/JPY recovers mildly after hitting 144.58. While some sideway trading might be seen, another fall is still expected with 147.18 resistance intact. As noted before, consolidation from 139.69 should have completed at 150.68 already. Below 144.58 will target 141.99 support first. Break will affirm this bearish case and target 139.26 low next. On the upside, though, above 147.18 minor resistance will mix up the near term outlook and we'll stay neutral first in such case. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 23 10 13:24 GMT |
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GBP/JPY's sharp fall last week and break of 145.96 support suggests that choppy rise from 139.26 has completed completed at 150.68 already. Also, consolidation pattern from 139.69 should have also finished too. Initial bias will remain on the downside this week for 141.99 support first. Break will affirm this bearish case and target 139.26 low next. On the upside, though, above 147.18 minor resistance will mix up the near term outlook and we'll stay neutral first in such case. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 22 10 13:57 GMT |
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GBP/JPY's fall resumes after strong but brief recovery and reaches as low as 144.80 so far. Intraday bias remains on the downside and further fall is expected to be seen to 141.99 support. Break there will also affirm the case that whole consolidation pattern from 139.96 has completed and deeper fall should be seen to retest 139.26 low. On the upside, above 147.18 minor resistance will turn intraday bias neutral and bring recovery. But upside should be limited below 149.49 resistance and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 22 10 07:23 GMT |
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GBP/JPY finally broke out of recent range and the break of 145.96 support indicates that rise from 139.26 has completed at 150.68 already. Intraday bias is flipped back to the downside for 141.99 support first. Break there will also affirm the case that whole consolidation pattern from 139.96 has completed and deeper fall should be seen to retest 139.26 low. On the upside, above 147.00 minor resistance will turn intraday bias neutral and bring recovery. But upside should be limited below 149.49 resistance and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Jan 21 10 06:55 GMT |
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No change in GBP/JPY's outlook as it's still bounded in converging range. Intraday bias remains neutral. Another rise cannot be ruled out and above 149.98 will target 150.68/153.21 resistance zone. But even in such case, upside should be limited there to conclude the whole consolidation from 139.96. On the downside, below 147.10 will flip intraday bias back to the downside. Further break of 145.96 will affirm the case that rise from 139.26, as well as consolidation from 139.96 have completed at 150.68 already. Deeper decline should then be seen to 141.99 support first and then a retest on 139.26 low. |
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