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 - Jan 21, 2012

Written By : ForexAbode.com || 2012-01-21 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: Rightmove House Price Index (YoY): 0.4% against the previous 1.5%. 2. UK: CPI: YoY 4.2%, same as the forecast but less than the previous 4.8%. The month on month data 0.4% was as per the forecasts but more than the previous 0.2%. 3. UK: Core CPI (YoY): 3.0%, same as the forecast but little less than the previous 3.2%. 4. UK: CB Leading Indicator Index: -0.6% against the previous -0.3%. 5.

GBP/JPY Weekly Outlook - Jan 14, 2012

Written By : ForexAbode.com || 2012-01-14 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: Industrial Production (YoY): -3.1%, negative as compared to the forecasts (-2.2%) as well as the previous release (-2.1%). 2. UK: Manufacturing Production (YoY): -0.6%, negative as compared to the forecasts (-0.5%) as well as the previous release (-0.1%). 3. UK: NIESR GDP Estimate: 0.1% against the previous 0.3%. 4.

GBP/JPY Weekly Outlook - Jan 08, 2012

Written By : ForexAbode.com || 2012-01-08 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: PMI for Manufacturing: 49.6, positive as compared to the forecasts (47.3) as well as the previous release (47.7). 2. UK: Mortgage Approvals: 52.845K, positive as compared to the forecasts (52.800K) as well as the previous release (52.786K). 3. UK: Consumer Credit: Pounds 0.4B, positive as compared to the forecasts (0.3B Pounds) as well as the previous release (GBP 0.1B). 4.

GBP/JPY Weekly Outlook - Dec 18, 2011

Written By : ForexAbode.com || 2011-12-18 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: RICS Housing Price Balance: -17, positive as compared to the forecasts (-25) as well as the previous release (-24). 2. UK: Core CPI (YoY): 3.2%, negative as compared to the forecasts (3.3%) as well as the previous release (3.4%). 3. UK: CPI (YoY): 4.8%, same as the forecasts but less than the previous 5.0%.

GBP/JPY Weekly Outlook - Dec 11, 2011

Written By : ForexAbode.com || 2011-12-11 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: PMI for Services: 52.1, positive as compared to the forecasts (50.7) as well as the previous release (51.3). 2. UK: Halifax House price Index (3 month over the year): -1.0% and hence better than the previous -1.8%.. The month on month data was -0.9% against previous 1.2%. 3.

GBP/JPY Weekly Outlook - Dec 04, 2011

Written By : ForexAbode.com || 2011-12-04 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: CBI Distributive Trade Survey- Realized (MoM): -19%, negative as compared to the forecasts (-12%) as well as the previous release (-11%). 2. UK: Nationwide Housing prices (YoY): 1.6%, positive as compared to the forecasts (1.3%) as well as the previous release (0.8%). 3.

GBP/JPY Weekly Outlook - Nov 27, 2011

Written By : ForexAbode.com || 2011-11-27 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: CBI Distributive Trade Survey- Realized (MoM): -19%, negative as compared to the forecasts (-12%) as well as the previous release (-11%). 2. UK: Nationwide Housing prices (YoY): 1.6%, positive as compared to the forecasts (1.3%) as well as the previous release (0.8%). 3.

GBP/JPY Weekly Outlook - Nov 20, 2011

Written By : ForexAbode.com || 2011-11-20 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: CPI (YoY): 5.0%, slightly negative as compared to the forecasts (5.1%) as well as the previous release (5.2%). The month on month data was 0.1% and less than the forecasts of 0.2% and previous release of 0.6%. 2. UK: DCLG House Price Index (YoY): -1.4%, negative as compared to the forecasts (1.7%) as well as the previous release (-1.3%). 3.

GBP/JPY Weekly Outlook - Oct 30, 2011

Written By : ForexAbode.com || 2011-10-30 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: Current Account for Q2: -2.022 Billion Pounds, positive as compared to the forecasts (-9.200 Pound) as well as the previous release (-4.120 Pound). 2. UK: BBA Mortgage Approvals: 33.1K, negative as compared to the forecasts (36.3K) as well as the previous release (35.2K). 3.

GBP/JPY Weekly Outlook - Oct 23, 2011

Written By : ForexAbode.com || 2011-10-23 00:00:00 GMT

Fundamentals (Recent economic releases) 1. UK: Rightmove House Price Index (YoY): 1.2% against the previous 1.2%. 2. UK: Rightmove House Price Index (MoM): 208% against the previous 0.7%. 3. UK: Core CPI (YoY): 3.3% and hence positive as compared to the forecasts (3.2%) as well as the previous release (3.1%). 4. UK: CPI (YoY): 5.2% and hence positive as compared to the forecasts (4.9%) as well as the previous release (4.5%).

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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