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GBPJPY Outlook |
Written by ActionForex.com |
Mar 19 10 08:26 GMT |
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Intraday bias is turned neutral with 4 hours MACD crossed below signal line. GBP/JPY has made an intraday top at 139.33 after hitting mentioned 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21). As noted before, choppy rise from 132.13 is treated as consolidation in the larger decline only and is expected to be limited by 139.21 resistance and such level is already met. Break of 135.18 minor support will flip intraday bias back to the downside. Further break of 132.13 low will confirm down trend resumption for 118.81 low. However, note that sustained break of 139.21 will dampen this view and bring stronger rebound to next cluster resistance at 143.59 instead. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 18 10 07:39 GMT |
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GBP/JPY rose to 139.33 but retreated sharply after hitting 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21). As noted before, choppy rise from 132.13 is treated as consolidation in the larger decline only and is expected to be limited by 139.21 resistance. With this level met, intraday bias is turned neutral. Break of 135.18 minor support will flip intraday bias back to the downside. Further break of 132.13 low will confirm down trend resumption for 118.81 low. However, note that sustained break of 139.21 will dampen this view and bring stronger rebound to next cluster resistance at 143.59 instead.\ |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 17 10 07:54 GMT |
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GBP/JPY's strong rebound and break of 138.04 indicates that consolidation from 132.13 is still in progress. But after all upside is still expected to be limited by 38.2% retracement of 150.68 to 132.13 at 139.21 and bring fall resumption. Below 135.18 minor support will flip intraday bias back to the downside. Further break of 132.13 low will confirm down trend resumption for 118.81 low. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 16 10 06:53 GMT |
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GBP/JPY's break of 136.12 minor support suggests that an intraday top is already in place at 138.04 and turns bias neutral. Further break of 133.89 support will indicate that choppy recovery from 132.13 has completed and recent down trend might then be resuming for 118.81 low. On the upside, above 138.04 will delay the bearish case and bring more recovery first. But after all, upside is expected to be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 15 10 06:47 GMT |
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At this point, further rise in GBP/JPY cannot be ruled out as corrective recovery from 132.13 might still extend further. However, upside is expected to be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. Below 136.12 minor support will turn intraday bias neutral first. Further break of 133.89 will argue that whole decline from 163.06 is resuming for 118.81 low. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 13 10 12:40 GMT |
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GBP/JPY's recovery from 132.13 resumed last week and rose to as high as 138.04. Further rise could still be seen initially this week. But after all, we'd expect upside to be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. Break of 133.89 minor support will will argue that whole decline from 163.06 is resuming for 118.81 low. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 12 10 06:36 GMT |
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GBP/JPY's consolidation from 132.13 is still in progress and another rise cannot be ruled out. But after all, upside is expected to be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. Below 133.89 minor support will flip intraday bias back to the downside for retesting 132.13 low first. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 11 10 08:15 GMT |
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GBP/JPY's break of 135.69 minor resistance turns intraday bias neutral again and argues that consolidation from 132.13 might be still in progress. Another rise cannot be ruled out but after all, upside should be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. Break of 132.13 will target 61.8% projection of 143.59 to 132.13 from 137.33 at 130.24 next. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 10 10 07:33 GMT |
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As discussed before, GBP/JPY's recovery from 132.13 might have completed at 137.33 already. Intraday bias is cautiously on the downside for retesting 132.13 first. Break will confirm fall resumption to 61.8% projection of 143.59 to 132.13 from 137.33 at 130.24 next. On the upside, above 135.69 minor resistance will delay the bearish case and bring more consolidations. But upside should be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 09 10 13:21 GMT |
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As discussed before, GBP/JPY's recovery from 132.13 might have completed at 137.33 already. Intraday bias is cautiously on the downside for retesting 132.13 first. Break will confirm fall resumption to 61.8% projection of 143.59 to 132.13 from 137.33 at 130.24 next. On the upside, above 135.69 minor resistance will delay the bearish case and bring more consolidations. But upside should be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 09 10 05:07 GMT |
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GBP/JPY's break of 135.18 minor support suggests that recovery from 132.13 might have completed at 137.33 already. Intraday bias is flipped back to the downside for retesting 132.13 low first. Break will confirm fall resumption to 61.8% projection of 143.59 to 132.13 from 137.33 at 130.24 next. On the upside, above 137.33 will delay the bearish case and bring more recovery. But upside should be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 08 10 08:10 GMT |
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At this point, intraday bias in GBP/JPY remains on the upside and further recovery could still be seen towards 38.2% retracement of 150.68 to 132.13 at 139.21. Nevertheless, strong resistance should be seen as GBP/JPY enters into 138.23/143.59 resistance zone. We'd expect the corrective rise from 132.13 to conclude below 143.59 cluster resistance (61.8% retracement of 150.68 to 132.13 at 143.59 and 38.2% retracement of 163.05 to 132.13 at 143.94) and bring resumption of the fall from 163.05. On the downside, below 135.18 minor support will flip intraday bias back to the downside for retesting 132.13 support first. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 06 10 13:41 GMT |
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GBP/JPY dived to as low as 132.13 initially last week but staged a strong rebound on Friday to close strongly at 136.62. The development indicates that a short term bottom is formed at 132.13 and we'd expect more corrective rise going forward, probably to 38.2% retracement of 150.68 to 132.13 at 139.21. Nevertheless, strong resistance should be seen as GBP/JPY enters into 138.23/143.59 resistance zone. We'd expect the corrective rise from 132.13 to conclude below 143.59 cluster resistance (61.8% retracement of 150.68 to 132.13 at 143.59 and 38.2% retracement of 163.05 to 132.13 at 143.94) and bring resumption of the fall from 163.05. On the downside, below 134.05 minor support will flip intraday bias back to the downside for retesting 132.13 support first. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 05 10 05:44 GMT |
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GBP/JPY's consolidation from 132.13 extends further and more recovery might be seen. But after all, upside should be limited by 136.72 resistance and bring fall resumption. Below 132.13 should target 100% projection of 150.68 to 138.23 from 143.59 at 131.14. Break there will target 161.8% projection at 124.55 next. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 04 10 05:59 GMT |
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GBP/JPY is still staying in tight range above 132.13 and some more consolidations cannot be ruled out. But even in case of another recovery, upside should be limited by 136.72 resistance and bring fall resumption. Below 132.13 should target 100% projection of 150.68 to 138.23 from 143.59 at 131.14. Break there will target 161.8% projection at 124.55 next. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 03 10 06:29 GMT |
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With 4 hours MACD crossed above signal line, an intraday low is in place at 132.13 and bias is turned neutral for the moment. Some consolidations would now be seen and stronger recovery cannot be ruled out. But after all, GBP/JPY is expected to be limited below 138.23 support turned resistance and bring fall resumption. Below 132.13 should target 100% projection of 150.68 to 138.23 from 143.59 at 131.14. Break there will target 161.8% projection at 124.55 next. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 02 10 05:44 GMT |
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Intraday bias in GBP/JPY remains on the downside with 134.48 minor resistance intact and further decline should be seen to 100% projection of 150.68 to 138.23 from 143.59 at 131.14. Break there will target 161.8% projection at 124.55 next. On the upside, above 134.48 will turn intraday bias neutral and bring consolidations. But upside is expected to be limited by 138.23 support turned resistance and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 01 10 12:22 GMT |
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GBP/JPY's decline accelerates further to as low as 132.13 so far. Intraday bias remains on the downside for next target of 100% projection of 150.68 to 138.23 from 143.59 at 131.14. On the upside, above 134.48 minor resistance will turn intraday bias neutral and bring consolidations. But upside is expected to be limited by 138.23 support turned resistance and bring fall resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Mar 01 10 06:43 GMT |
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Intraday bias in GBP/JPY remains on the downside for the moment and further decline should be seen to 100% projection of 150.68 to 138.23 from 143.59 at 131.14. On the upside, above 136.70 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited by 139.58 resistance and bring fall resumption. |
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