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 - Aug 14, 2010

Written By : ForexAbode.com || 2010-08-14 00:00:00 GMT

Current 134. Trend:Volatile Sideways. Outlook:Volatile sideways with bearish outlook. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: RICS House Prices Balance release quite negative as compared to the previous release as well as the expectations. 2. UK: Total Trade Balance report positive as compared to the previous release as well as the expectations. 3.

GBP/JPY Weekly Outlook - Aug 01, 2010

Written By : ForexAbode.com || 2010-08-01 00:00:00 GMT

Current 135.66 Trend:Volatile Sideways. Outlook:Volatile sideways with bearish outlook. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Gfk Consumer Confidence data negative as compared to previous results as well as expectations. 2. UK: Investors are betting that Prime Minister David Cameron’s plans to slash the U.K. budget deficit will hinder the U.K.

GBP/JPY Weekly Outlook - Aug 01, 2010

Written By : ForexAbode.com || 2010-08-01 00:00:00 GMT

Current 135.66 Trend:Volatile Sideways. Outlook:Volatile sideways with bearish outlook. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Gfk Consumer Confidence data negative as compared to previous results as well as expectations. 2. UK: Investors are betting that Prime Minister David Cameron’s plans to slash the U.K. budget deficit will hinder the U.K.

GBP/JPY Weekly Outlook - Jul 25, 2010

Written By : ForexAbode.com || 2010-07-25 00:00:00 GMT

Current 134.84 Trend:Volatile Sideways. Outlook:Volatile sideways with bearish outlook. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: GDP Preliminary releases quite positive as compared to previous release and expectations. 2. UK: Retails Sales (MoM- Month on Month) data better that expectations but less than previous release. 3.

GBP/JPY Weekly Outlook - Jul 18, 2010

Written By : ForexAbode.com || 2010-07-18 00:00:00 GMT

Current 132.47 Trend:Sideways. Outlook:Volatile sideways. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Nationwide Consumer Confidence data negative as compared to the expectations and previous release. 2. UK: Jobless Claims Change data positive as compared to the expectations and previous release. 3.

GBP/JPY Weekly Outlook - Jun 27, 2010

Written By : ForexAbode.com || 2010-06-27 00:00:00 GMT

Current 134.44 Trend:Correction during downtrend. Outlook:Volatile sideways. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Optimism that an emergency budget announced June 22 by Chancellor of the Exchequer George Osborne would cut the nation’s deficit and enable Britain to keep its top credit rating. 2.

GBP/JPY Weekly Outlook - Jun 20, 2010

Written By : ForexAbode.com || 2010-06-20 00:00:00 GMT

Current 134.44 Trend:Correction during downtrend. Outlook:Volatile sideways. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Manufacturing releases showed negative results as compared to previous and expectations. 2. UK: PPI (Producer Price Index) releases positive of Inputs (buying prices) but negative for Outputs (selling prices). 3.

GBP/JPY Weekly Outlook - Jun 13, 2010

Written By : ForexAbode.com || 2010-06-13 00:00:00 GMT

Current 133.35 Trend:Correction during downtrend. Outlook:Bearish. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: British economy expanded 0.6% in the quarter through May. 2. UK: Total trade balance less than previous release and expectations. 3. UK: Manufacturing data negative. 4. Japan: Bank landings declined for 6th month in May. 5.

GBP/JPY Weekly Outlook - Jun 06, 2010

Written By : ForexAbode.com || 2010-06-06 00:00:00 GMT

Current 131.58 Trend:Down Outlook:Bearish. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Consumer confidence unexpectedly dropped to a 5-months’ low in May (releases of last to last week) otherwise no market driving economic releases during previous week. 2. Japan: Japan’s Prime minister Yukio Hatoyama resigned and Dy.

GBP/JPY Weekly Outlook - May 30, 2010

Written By : ForexAbode.com || 2010-05-30 00:00:00 GMT

Current 131.58 Trend:Down (little correction expected) Outlook:Bearish. Please refer daily charts and not short-term charts e.g. hourly charts. Fundamentals: 1. UK: Consumer confidence unexpectedly dropped to a 5-months’ low in May. 2. UK: GDP Preliminary report better than previous release. 3. UK: British Airways’ (Europe’s third biggest carrier) cabin crew resumed strike. 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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