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 - Jan 27, 2013

Written By : ForexAbode.com || 2013-01-27 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) initially fell to 139.26 i.e. 14 pips below the 139.40 level which we had mentioned during last week.

GBP/JPY Finds Support At 5 Week EMA Again

Written By : himanshu || 2013-01-20 01:33:31 GMT

GBP/JPY went as high as 144.81 but found resistance below the psychological level of 145.00 and fell sharply to 140.51.

GBP/JPY Weekly Outlook - Jan 19, 2013

Written By : ForexAbode.com || 2013-01-19 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) went as high as 144.81 and then had a fall to 140.51 bur recovered again to go as high as 144.26 before closing for the week at 142.96. The strong resistance ahead of 145.00 psychological level and the continuing trend of 5-week EMA support on the other hand is keeping us neutral initially. Please check this GBP/JPY chart alert to check the mentioned support.

GBP/JPY's Entry Into The Strong Resistance Zone

Written By : forexabode || 2013-01-13 04:00:54 GMT

First time after over 31 months i.e. since the beginning of May 2010, GBP/JPY broke over 140.00 psychological resistance.

GBP/JPY Weekly Outlook - Jan 12, 2013

Written By : ForexAbode.com || 2013-01-12 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) found support at 139.40 which was 2 pips below 139.42 support which we had mentioned during last weekend. The pair then moved as expected and went as high as 144.42 before closing for the week at 143.86. The outlook of GBP/JPY remains bullish and though 145.00 is a strong psychological resistance but the recent strong momentum suggests that the currency pair should test it.

GBP/JPY's Break Above Psychological 140.00 Level

Written By : himanshu || 2013-01-06 03:13:19 GMT

GBP/JPY broke over 140.00 psychological level and 140.02 of April 8, 2011 very strongly. The downward journey from 163.08 of August 2009 to 116.84 of September 22, 2011 has it's 61.8% retracement at 145.39. This level also coincides with the strong resistance zone March end to the beginning of May 2010. Please check the following chart of GBP/JPY. GBP/JPY Weekly Chart:

GBP/JPY Weekly Outlook - Jan 06, 2013

Written By : ForexAbode.com || 2013-01-06 00:00:00 GMT

British Pound-Japanese Yen (GBP/JPY) very strongly broke over 140.02 resistance which was mentioned by us 2 weeks back. The currency pair went as high as 142.77 before closing for the week at 141.65. The strong break of 140.00 psychological level has made the near-term outlook bullish for GBP/JPY but the slight loss of momentum during the last week indicates the possibilities of some downward consolidation if there is a break below 140.18.

GBP/JPY Failing Below 138.00

Written By : forexabode || 2012-12-23 01:53:50 GMT

GBP/JPY's  failure below 138.00 after going as high as 137.86 and the wide gap between the opening price and the highs of past 3 trading days suggest a possible consolidation. The 38.2% retracement level of the upward move during November 12th/13th to December 19th, 2012 is quite close to the high of the previous sideways move during  November 22nd and December 10th was 133.91.

GBP/JPY Weekly Outlook - Dec 22, 2012

Written By : ForexAbode.com || 2012-12-22 00:00:00 GMT

GBP/JPY Outlook:   British Pound-Japanese Yen (GBP/JPY) went as high as 137.86 and then went into a volatile sideways mode over the week's low of 135.45. The weekly closing was at 136.21. The support over 135.45 indicates that the support of the psychological 135.00 is in play and the underlying bullish sentiments for the near-term remain in place.

GBP/JPY Weekly Outlook - Dec 09, 2012

Written By : ForexAbode.com || 2012-12-09 00:00:00 GMT

GBP/JPY Outlook:   British Pound-Japanese Yen (GBP/JPY) has been finding resistance at 132.90/132.91 and remained in the sideways mode between this level and 131.56. The weekly closing was at 132.33. While weekly MACD remains above the signal line very bullishly, the daily MACD moved below the signal line to indicate that we can expect some consolidation.

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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