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 - May 01, 2011

Written By : ForexAbode.com || 2011-05-01 00:00:00 GMT

Current 135.64 GBP/JPY Trend: Correction during upward move. GBP/JPY Outlook: Volatile sideways with bullish sentiment. Fundamentals (Recent economic releases) GBP/JPY - Fundamentals (Recent economic releases): 1. UK: GDP Year on Year preliminary release same as forecasts and better than the previous release. 2.

GBP/JPY Weekly Outlook - Nov 28, 2010

Written By : ForexAbode.com || 2010-11-28 00:00:00 GMT

Current 131.00 Trend:Correction during upward move. Outlook:Volatile sideways with bearish sentiment. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Tensions between North Korea and South Korea after North Korea's shelling of North Korean island. Any increased tension will have a negative effect for growth linked currencies or currencies for more risk appetite. 2.

GBP/JPY Weekly Outlook - Nov 07, 2010

Written By : ForexAbode.com || 2010-11-07 00:00:00 GMT

Current 131.53 Trend:Volatile sideways (longer-term picture) Outlook:Some sideways/upward move before further downward movement. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: GDP preliminary releases showed better data as compared with the forecasts. 2. UK: Nationwide Housing Prices releases showed negative data as compared to the previous releases as well as the forecasts. 3.

GBP/JPY Weekly Outlook - Oct 31, 2010

Written By : ForexAbode.com || 2010-10-31 00:00:00 GMT

Current 128.91 Trend:Volatile sideways (longer-term picture) Outlook:Some sideways/upward move before further downward movement. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: GDP preliminary releases showed better data as compared with the forecasts. 2. UK: Nationwide Housing Prices releases showed negative data as compared to the previous releases as well as the forecasts. 3.

GBP/JPY Weekly Outlook - Oct 24, 2010

Written By : ForexAbode.com || 2010-10-24 00:00:00 GMT

Current 130.24 Trend:Volatile sideways (longer-term picture) Outlook:Some sideways/upward move before further downward movement. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: U.K. economic growth slowed in the third quarter to a third of the pace in the previous three months as consumer spending faltered, a survey of economists showed. 2.

GBP/JPY Weekly Outlook - Oct 10, 2010

Written By : ForexAbode.com || 2010-10-10 00:00:00 GMT

Current 130.78 Trend:Volatile sideways Outlook:Some sideways/downward move before further downward movement. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: PMI Construction data release for September positive as compared to previous release as well as the forecasts. 2. UK: PMI data for services better as compared to the previous release. 3. UK: Manufacturing data releases were positive 4.

GBP/JPY Weekly Outlook - Oct 03, 2010

Written By : ForexAbode.com || 2010-10-03 00:00:00 GMT

Current 131.65 Trend:Up Outlook:Some sideways/downward move before further upward movement. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: GDP data same as forecasts but much better than the previous release. 2. UK: Net Lending to individuals data much better as compared to the previous release as well as the forecasts. 3.

GBP/JPY Weekly Outlook - Sep 26, 2010

Written By : ForexAbode.com || 2010-09-26 00:00:00 GMT

Current 133.26 Outlook:Some sideways move before further upward movement. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Bank of England policy maker Andrew Sentance said U.K. interest rate should be raised soon and the increases should be gradual. 2. UK: BBA Mortgage Approvals data negative as compared to previous data as well as expectations. 3.

GBP/JPY Weekly Outlook - Sep 19, 2010

Written By : ForexAbode.com || 2010-09-19 00:00:00 GMT

Current 134.23 Outlook:some downward move before some more upward consolidation. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: UK jobless claims increased in August for the first time in seven months 2. UK: UK housing market fell more than economists expected. 3. UK: Nationwide Consumer Confidence data positive as compared to the previous release as well as the expectations. 4.

GBP/JPY Weekly Outlook - Sep 05, 2010

Written By : ForexAbode.com || 2010-09-05 00:00:00 GMT

Current 130.26 Trend:Down. Outlook:Some more upward consolidation and then another fall. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals(Recent economic releases): 1. UK: U.K. services growth slowed more than economists forecast in August. 2. UK: Deputy Governor Charles Bean said on Aug.

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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