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 - July 7 to 11, 2014

Written By : ForexAbode.com || 2014-07-06 02:37:47 GMT

GBP/JPY continued the upward journey to go as high as 175.37 before closing for the week at 175.15. The main highlights of the week was first a break over 174.84 and then the smooth break over 175.00 psychological level. The currency pair had touched 174.84 during the end of December 2013. However, the strong psychological resistance kept it below that level for over 6 months.

GBP/JPY Fundamentals and Economic Strength Meter - July 5, 2014

Written By : ForexAbode.com || 2014-07-04 19:30:50 GMT

GBP/JPY fundamentals are updated weekly. This is mainly derived from the recent major economic releases and news. The GBP/JPY economic strength meter at the bottom shows the relative strength or weakness of the recent economic releases and news from the U.K.

GBP/JPY Weekly Outlook - May 26 to 30, 2014

Written By : ForexAbode.com || 2014-05-25 00:13:20 GMT

GBP/JPY went as low as 169.80 but recovered very strongly to touch 171.86 before closing for the week at 171.71. The recent support came just above the 38.2% retracement level of the move from 163.88 to 173.58. The previous 2 falls had found supports 61.8% and 50% retracement levels respectively.

GBP/JPY Weekly Outlook - May 19 to 23, 2014

Written By : ForexAbode.com || 2014-05-18 02:00:27 GMT

GBP/JPY failed in its attempt of recovery at 172.74. The pair, then fell sharply to 170.16 before closing for the week at 170.70. The short-term bearish sentiments became stronger with the break of 171.22 support and also the 55-day EMA support. However, considering the possible support of the psychological level of 170.00, we, initially remain neutral, to expect some sideways trading, till that support is not broken.

GBP/JPY Weekly Outlook - Mar 15, 2014

Written By : ForexAbode.com || 2014-03-15 00:00:00 GMT

GBP/JPY Weekly Outlook and Predictions GBP/JPY continued its fall from 173.58 to go as low as 167.93 before closing for the week at 168.72.   The facts that the pair failed to test January 22nd's resistance of 173.65 merely by 7 pips and then broke below not only 168.83 of March 3rd but the short-term support trend-line also, brings short-term bearish sentiments in the picture.

What did GBP/JPY's recent support whispered?

Written By : forexabode || 2014-02-23 01:33:39 GMT

GBP/JPY surely lost upward momentum during the the last week and that may cast some doubts about the continuation of further gains.

GBP/JPY Weekly Outlook - Jul 11, 2010

Written By : ForexAbode.com || 2014-02-20 06:09:49 GMT

1. UK: Producer prices unexpectedly dropped in June for the first time in 1 1/2 years. 2. UK: Industrial Production release positive. 3. UK: Goods Trade Balance and Total Trade Balance release were negative as compared to previous and expectations. 4. Japan: Core Machine Orders data was negative as compared to previous release and expectations. 5. Japan: Trade Balance data was less than the previous release and expectations.

GBP/JPY Fundamentals and Economic Strength Meter - Feb 16, 2014

Written By : ForexAbode.com || 2014-02-16 00:00:00 GMT

GBP/JPY fundamentals are updated weekly. It is one of the basis for the GBP/JPY weekly outlook. This is mainly derived from the recent major economic releases and news. The GBP/JPY economic strength meter at the bottom shows the relative strength or weakness of the recent economic releases and news from the U.K.

GBP/JPY Analysis - Feb 11, 2014

Written By : ForexAbode.com || 2014-02-11 00:00:00 GMT

GBP/JPY Daily and Hourly Charts GBP/JPY Hourly Chart      GBP/JPY Daily Chart        GBP/JPY Daily Technical Analysis Current Exchange Rate: 168.40 at the time of analysis update. Intraday outlook:  GBP/JPY's Latest Analysis (February 11, 2014): The strong upward jump which broke over the expected resistance of 167.77 to 168.34 zone makes the outlook mildly bullish.

GBP/JPY Weekly Outlook - Feb 02, 2014

Written By : ForexAbode.com || 2014-02-02 00:00:00 GMT

GBP/JPY tried to recover after touching 167.77 but failed at 171.47 and then fell sharply to 167.58 before closing for the week at 167.67.   From the price-action perspective the recent fall is only considered as a consolidation from the resistance of 175.00 level. The recent high was 174.85 and the psychological resistance of 175.00 level was a normal phenomena.

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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