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:

 

 

Will GBP/JPY Target 152.10?

Written By : forexabode || 2013-05-08 05:29:18 GMT

155.00 psychological level kept it's resistance on GBP/JPY. The recent support trend has been near 22-day EMA level. Let's see if that pattern holds. GBP/JPY daily chart

GBP/JPY Weekly Outlook - Apr 28, 2013

Written By : ForexAbode.com || 2013-04-28 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) had moved the way we had indicated 2 weeks back. The pair had gone down below the indicated 147.77 but found strong support at 146.44 i.e. above the mentioned 145.25.

GBP/JPY Weekly Outlook - Apr 13, 2013

Written By : ForexAbode.com || 2013-04-13 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) went as high as 153.87 but found strong resistance before entering 154.00 ranges where the psychological pressure of approaching 155.00 would start. The strong fall took the currency pair to 150.57 before it closed for the week at 150.98. The strong fall much ahead of testing the 155.00 level suggests that the currency pair should have some more downward consolidation before resuming the upward move.

GBP/JPY Resistances And Supports

Written By : forexabode || 2013-04-11 10:17:34 GMT

GBP/JPY seems to be all set to test the psychological 155.00 level but then the psychological pressure has already been coming into the picture. The recent trend has been a support at 22-hour EMA and with a break of that the secondary support has been near 55-hour EMA. There has also been a resistance trend line into the picture and considering that the next resistance should be in the range of 153.30/153.50. GBP/JPY daily chart  

GBP/JPY Weekly Outlook - Mar 09, 2013

Written By : ForexAbode.com || 2013-03-09 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) remained in a narrow range between 140.21 and 141.50 for the good part of the week before breaking this range with a very strong upward jump to 144.77 and then closed for the week at 143.29. The strong upward jump after a low volatile sideways move during the good part of the last week suggests that GBP/JPY may have completed the consolidation and is ready to move further up.

GBP/JPY Weekly Outlook - Feb 24, 2013

Written By : ForexAbode.com || 2013-02-24 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) moved as we had mentioned 2 weeks back. The currency pair went as low as 141.33 before closing for the week at 141.56. Though our near-term outlook for GBP/JPY stays bullish but such a strong upward jump had to bring some downward consolidation. The strong recent fall makes us expect some further deeper consolidation.

GBP/JPY Weekly Outlook - Feb 10, 2013

Written By : ForexAbode.com || 2013-02-10 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) broke over 146.98 level which we had mentioned during last weekend and then the currency pair went as high as 147.97 but failed well ahead of 150.00 and remained in a volatile sideways mode over 145.00. The weekly closing was at 146.43. The strong upward jump which first broke over 145.39 i.e.

GBP/JPY Weekly Outlook - Feb 03, 2013

Written By : ForexAbode.com || 2013-02-03 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) not only broke over 144.81 but also 145.98 which we had mentioned during last weekend. The currency pair went as high as 146.48 before closing for the week at 145.67. The strong upward jump which first broke over 145.39 i.e. 61.8% retracement of the downward move during the beginning of August 2009 (163.08) to the low of 116.84 on September 22nd, 2011 and then also 145.98 keep the bullish outlook intact.

GBP/JPY Breaks Over The Strong Resistance of 145.98

Written By : forexabode || 2013-02-01 06:03:23 GMT

145.98 had proved to be a very strong resistance during April 2010 for GBP/JPY. The fall from this level had taken the currency pair to 126.72 withing 4 weeks. GBP/JPY has broken over that resistance after 2 years and 9 months by going as high as 146.45. The next resistance zone as per the previous price action was in the range of 149.47 to 150.72. GBP/JPY Weekly Chart

GBP/JPY Breaks The Support Of 5-Week EMA After 9 Weeks

Written By : himanshu || 2013-01-27 08:18:37 GMT

For past 9 weeks GBP/JPY had been finding support near the 5-week EMA level with every drop in the price level. The currency pair broke that trend last week after over two months. Past 3 weeks highs have been as follows: Week of  January 7th: 144.42 Week of  January 17th: 144.81 Week of  January 21st: 144.24 The resistance is clearly indicating that the psychological resistance of 145.00 is in the picture.

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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