GBP/JPY Daily Technical Analysis - June 12, 2015
Current Exchange Rate: 191.79 at the time of analysis update.
Intraday outlook: .
GBP/JPY is expected to find support above 191.40 and if that support holds then we expected some further gains towards 192.50. However, a break of the mentioned support should extend the decline first towards 191.25 and then possibly 191.05. The risk-reward ratios are poor and hence for trading positions we stay neutral even though we expect further upward moves.
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.
Note 2: Please subscribe to the analysis newsletter so that we can send email alerts as soon as we update the the same.There can also be some news or some indications from technical indicators or chart patterns which may suggest some major moves. Please check and share such observations at GBP/JPY chart alerts in the blog section. Do also check GBP/JPY market sentiments in the forum.
(For Carry Trade)
GBP/JPY Resistance and Support with Daily Pivot Points (Values at GMT 00:00)
Last Updated (Friday, 12 June 2015 01:45) 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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