GBP/JPY: Analysis, Outlook and Forecasts

GBP/JPY (British Pound - Japanese Yen) outlook and forecast is presented by the team of ForexAbode's analysts and is followed by the traders around the world. The outlook takes into account the various factors which can affect the future price-action of GBP/JPY. The factors to analyze the outlook are geo-political news, fundamentals including major economic releases and technical factors but most importantly we focus on the price-action analysis.

 

The outlook reflects our views for short-term to mid-term movement of the currency pair. However, sometimes the analysis takes into account the price-data which may span many years and have a longer-term view. This is also supported by our very popular chart alerts.

 

The weekly analysis includes the predictions for the next week's expected moves for the pound sterling and Japanese yen. However, the forecast is not only limited to the coming week but is applicable for the overall expectations for the near-term to longer-term. Apart from the weekly forecasts we also update GBP/JPY daily technical analysis, which presents our views about the price-action from short-term perspective.

 

You may also like to check the following resources for trading GBP/JPY:

 

 

GBP/JPY Weekly Outlook - Apr 28, 2012

Written By : ForexAbode.com || 2012-04-28 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK (GBP): Public Sector Net Borrowing: GBP 15.870B, negative as compared to the forecasts (GBP 14.400B) as well as the previous 9.938B Pounds.2. UK (GBP): GDP (prelim): Year on year change 0.0%, negative as compared to the forecasts (0.3%) as well as the previous 0.5%. Month on month change -0.2% was slightly better than the previous -0.3% but less than the expected 0.1%.3.

GBP/JPY Weekly Outlook - Apr 21, 2012

Written By : ForexAbode.com || 2012-04-21 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK£: Rightmove House Price Index (MoM): 2.9% against the previous 1.6%. 2. UK£: Consumer Price Index: Year on year change 3.5% was same as the consensus and slightly more than the previous 3.4%. Month on month change 0.3% was same as the forecasts but quite less than the previous 0.6%. 3.

GBP/JPY Weekly Outlook - Apr 14, 2012

Written By : ForexAbode.com || 2012-04-14 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: RICS Housing Price Balance: -10%, positive as compared to the forecasts (-12%) as well as the previous (-13%). 2. UK: Goods Trade Balance: GBP -8.772B, negative as compared to the forecasts (GBP -7.700B) as well as the previous -7.7883B. 3. UK: Trade Balance (non-EU): GBP -5.017B, quite negative as compared to the forecasts (GBP -3.850B) as well as the previous -3.717 Pounds. 4.

GBP/JPY Weekly Outlook - Mar 11, 2012

Written By : ForexAbode.com || 2012-03-11 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK (£): PMI for Services: 53.8, negative as compared to the forecasts (54.8) as well as the previous 56.0. 2. UK (£): Industrial Production: Year on year -3.8%, negative as compared to the forecast as well as the previous release of -3.1%. Month on month data was -0.4% against the expectations of 0.3% and previous 0.4%. 3.

GBP/JPY Weekly Outlook - Mar 25, 2012

Written By : ForexAbode.com || 2012-03-11 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK(£): Rightmove House Price Index: Year on year 2.2% against the previous 1.4%. Month on month change was 1.6% against the previous 4.1%. 2. UK(£): Consumer Price Index: Year-on-year 3.4% and hence slightly better than the forecasts (3.3%) but less than the previous 3.6%. Month on month change of 0.6% was better than both the expected 0.5% and previous -0.5%.

GBP/JPY Weekly Outlook - Mar 03, 2012

Written By : ForexAbode.com || 2012-03-03 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK (£): Gfk Consumer Confidence: -29, same as the previous release but negative as compared to the expectations of -27. 2. UK (£): Consumer Credit: 1.8B Pounds, quite positive as compared to the forecasts (GBP 0.2B) as well as the previous 0.9B Pounds. 3. UK (£): Mortgage Approvals: 58.728K, positive as compared to the forecast (53.700K) as well as the previous 55.019K. 4.

GBP/JPY Weekly Outlook - Feb 19, 2012

Written By : ForexAbode.com || 2012-02-19 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK (£): RICS Housing Price Balance: 4 against the previous 3. 2. UK (£): CPI: Month on month -0.5% was same as the forecasts but quite less than the previous 0.4%. The year on year data 3.6% was same as the expected but again less than the previous 4.2% same with the Core CPI (YoY) which was 2.6% against the previous 3.0%. 3.

GBP/JPY Weekly Outlook - Feb 12, 2012

Written By : ForexAbode.com || 2012-02-12 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: Halifax House Prices: 3 month/Year data was -1.8%, better than the forecasts of -2.1% but negative against the previous -1.3%. Month on month 0.6% was positive against the forecast of 0.1% as well as the previous -1.0%. 2. UK: Goods Trade Balance: GBP -7.111B, positive as compared to the forecasts (GBP -8.600B) as well as the previous -8.900 Pounds. 3.

GBP/JPY Weekly Outlook - Feb 04, 2012

Written By : ForexAbode.com || 2012-02-04 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: Gfk Consumer Confidence: -29, positive as compared to the forecast (-32) as well as the previous -33. 2. UK: Net Lending to Individuals (MoM): 0.7B Pounds, slightly negative as compared to the forecasts of GBP 0.8B but slightly better than the previous 0.6B Pounds. 3. UK: PMI for Manufacturing: 52.1, positive as compared to the forecast (49.8) as well as the previous release (49.7). 4.

GBP/JPY Weekly Outlook - Jan 28, 2012

Written By : ForexAbode.com || 2012-01-28 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: Public Sector Net Borrowing: 10.791B Pounds, positive as compared to the forecast (Pounds 12.2B) as well as the previous release (GBP 15.085). 2. UK: BBA Mortgage Approvals: 36.2K, positive as compared to the forecasts (35.3K) as well as the previous (34.7K). 3. UK: GDP (QoQ) -prelim: -0.2%, negative as compared to the forecast (-0.1%) as well as the previous (0.6%). 4.

Interest Rates difference of GBP and JPY

GBP to JPY Interest Rates Comparison
(For Carry Trades)
Pound sterling (GBP) interest rate
0.50%
Japanese yen (JPY) interest rate
0.10%
GBP/JPY interest rate comparison
0.40%

Overall Price-Action Trend of GBP/JPY

Please refer the following monthly chart of 10-year historical price-action to check the overall GBP/JPY trend.

Monthly chart of GBP/JPY, indicating the overall trend.

 

Main observations for GBP/JPY historical price-action and outlook for the near future

  • The attempt of recovery, after the great fall during the economic crisis of 2008-2009, had found very strong resistance in the range of 162.55 to 163.07. GBP/JPY managed to break over that resistance.
  • Not only the above mentioned resistance was taken out but that previous resistance seems to be acting as support now and that indicates bullish sentiments.
  • The pair also completed the 38.2% retracement and broke over that resistance as well.
  • GBP/JPY's recent high was 174.84 during the beginning of January 2014. Since then the price-action has been staying below that. This fact is indicating the psychological resistance of 175.00. However, the recent lows have been getting higher and that also indicates that the pair may take out the resistance of 175.00 sooner or later.

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