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 - Jul 31, 2011

Written By : ForexAbode.com || 2011-07-31 00:00:00 GMT

Current 126.08 GBP/JPY Trend: Down. GBP/JPY Outlook: Some more sideways before another fall. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: GDP Preliminary data- Year on year data negative as compared to the previous release as well as forecasts. QoQ data less than the previous release but same as the forecasts. 2.

GBP/JPY Weekly Outlook - Jul 24, 2011

Written By : ForexAbode.com || 2011-07-24 00:00:00 GMT

Current 128.03 GBP/JPY Trend: Down. GBP/JPY Outlook: Some more sideways and possible upward correction before another fall. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: Rightmove House price Index data for both MoM and YoY quite negative as compared to the previous release. 2. UK: retail Sales reports were positive as compared to the previous releases as well as forecasts. 3.

GBP/JPY Weekly Outlook - Jul 17, 2011

Written By : ForexAbode.com || 2011-07-17 00:00:00 GMT

Current 129.93 GBP/JPY Trend: Down. GBP/JPY Outlook: Some more upward correction with volatile moves before another fall. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: Trade Balance and Goods Trade Balance reports - negative as compared to the previous releases as well as forecasts. 2.

GBP/JPY Weekly Outlook - Jul 03, 2011

Written By : ForexAbode.com || 2011-07-03 00:00:00 GMT

Current 129.93 GBP/JPY Trend: Down. GBP/JPY Outlook: Some more upward correction with volatile moves before another fall. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: Total Business Investment (YoY) for Q1- Quite positive as compared to the forecasts but much less than the previous release. 2.

GBP/JPY Weekly Outlook - Jun 26, 2011

Written By : ForexAbode.com || 2011-06-26 00:00:00 GMT

Current 129.64 GBP/JPY Trend: Near-term down (Overall volatile sideways). GBP/JPY Outlook: Some more downward move. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 3. Ichimoku Cloud: A good strength bearish crossover signal by Tenkan sent going below Kijun-sen on June 6th.

GBP/JPY Weekly Outlook - Jun 19, 2011

Written By : ForexAbode.com || 2011-06-19 00:00:00 GMT

Current 129.64 GBP/JPY Trend: Near-term down (Overall volatile sideways). GBP/JPY Outlook: Some more downward move. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: RICS Housing Price Balance report - quite negative as compared to the previous release as well as forecasts. 2. UK: Retail Price Index (YoY) - slightly less than the forecasts but same as the previous release. 3.

GBP/JPY Weekly Outlook - Jun 12, 2011

Written By : ForexAbode.com || 2011-06-12 00:00:00 GMT

Current 130.34 GBP/JPY Trend: Near-term down (Overall volatile sideways). GBP/JPY Outlook: Some more downward move. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: Trade Balance - non-EU and Goods Trade Balance reports positive as compared to the previous release as well as forecasts. 2.

GBP/JPY Weekly Outlook - May 22, 2011

Written By : ForexAbode.com || 2011-05-22 00:00:00 GMT

Current 132.63 GBP/JPY Trend: Correction during mid-term uptrend (Overall volatile sideways). GBP/JPY Outlook: Volatile sideways and some upward move but overall near term bearish sentiment. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: Consumer price Index and Core Consumer price Index reports quite positive as compared to the previous releases as well as forecasts. 2.

GBP/JPY Weekly Outlook - May 15, 2011

Written By : ForexAbode.com || 2011-05-15 00:00:00 GMT

Current 130.86 GBP/JPY Trend: Correction during Uptrend (Overall volatile sideways). GBP/JPY Outlook: Volatile sideways with bearish sentiment. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: RICS House Price Balance report - negative as compared to the previous release as well as forecasts. 2.

GBP/JPY Weekly Outlook - May 08, 2011

Written By : ForexAbode.com || 2011-05-08 00:00:00 GMT

Current 131.96 GBP/JPY Trend: Correction during Uptrend (Overall volatile sideways). GBP/JPY Outlook: Volatile sideways with bullish sentiment. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: Annual input-price inflation accelerated to the fastest since September 2008 2.

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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