GBP/JPY Daily Technical Analysis - December 10, 2014
Current Exchange Rate: 186.94 at the time of analysis update.
Intraday outlook: .
The resistance at 189.72 and then the subsequent support at 185.20 indicate that GBP/JPY maybe trapped between the psychological support and resistance levels of 185.00 and 190.00. We expect some volatile sideways moves between these levels. The Greece crisis is resurfacing again and negative outlook for Euro-zone affects GBP in the same direction. On the other hand the bearish sentiments for Japanese economy stay as it is. We stay neutral at the current price levels. On the upside we would expect resistance at or below below 187.60.
GBP/JPY Daily and Hourly Charts
GBP/JPY Hourly Chart
GBP/JPY Daily Chart
Further Resources and notes
Note 1: Please also take a look at GBP/JPY forecast for mid-term trading approach updated on the weekends.
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(For Carry Trade)
GBP/JPY Resistance and Support with Daily Pivot Points (Values at GMT 00:00)
Last Updated (Tuesday, 21 October 2014 02:31) GMT
|Standard Pivot Point for GBP/JPY||Fibonacci Pivot Point for GBP/JPY||Woodie Pivot Point for GBP/JPY||Camarilla Pivot Point for GBP/JPY|
Notes and caution about Forex analysis for GBP/JPY
The daily GBP/JPY analysis is not just based on technical indicators but also takes into account the overall price action and other aspects which can affect the Forex market in general and GBP/JPY price action specifically. Please also note that many times the price mentioned at the time of analysis update maybe different than the entry level suggested. These positions would mean limit orders for buying or short-selling. Hence please do not treat this analysis just as trading signals for GBP/JPY.
However, please note that the analysis reflects our views about the currency market based various factors. Forex trading is a speculative market and the price may always have unpredictable moves. We cannot take the responsibility for any losses dues to and positions taken based on our views.
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