Written By : ForexAbode.com || Monday, 15 June 2015 05:29 GMT

GBP/JPY Daily  Technical Analysis - June 15, 2015

Current Exchange Rate: 191.56 at the time of analysis update.

Intraday outlook: Mildly bearish outlook for GBP/JPY..

The daily chart shows that an ascending channel has formed for GBP/JPY's price action. The recent resistance came before the price-action could test the resistance line. We expect further consolidation towards the support line. Please also note that the 22-day EMA has been proving as a support. There has been may instances when that support was broken but the daily closing was over that support. On the upside we expect a strong resistance in the range of 192.10 to 192.25 and if this resistance holds the we expect a decline first towards 191.25 and with any break of that support towards 190.20 to 190.50 support zone.

However, any break above 192.25 will neutralize the above outlook.

GBP/JPY Daily and Hourly Charts

GBP/JPY Hourly Chart     

GBP/JPY analysis - hourly chart - June 15, 2015

GBP/JPY Daily Chart     

GBP/JPY  analysis - daily chart - June 15, 2015

 

GBPJPY daily price action is contained within a channel. 

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.
GBP/JPY Interest Rate Comparison
(For Carry Trade)
Pound sterling (GBP) interest rate
0.50%
Japanese yen (JPY) interest rate
0.10%
GBP/JPY interest Rate Comparison
0.40%

GBP/JPY Resistance and Support with Daily Pivot Points (Values at GMT 00:00)

Last Updated (Monday, 15 June 2015 06:35) 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
R3 193.34 R3 192.78     R3 192.23
R2 192.78 R2 192.41 R2 192.82 R2 192.14
R1 192.37 R1 192.18 R1 192.45 R1 192.05
Pivot 191.81 Pivot 191.81 Pivot 191.85 Pivot 191.81
S1 191.4 S1 191.44 S1 191.48 S1 191.87
S2 190.84 S2 191.21 S2 190.88 S2 191.78
S3 190.43 S3 190.84     S3 191.69
Open 191.77 Open 191.77 Open 191.77 Open 191.77
High 192.22 High 192.22 High 192.22 High 192.22
Low 191.25 Low 191.25 Low 191.25 Low 191.25
Close 191.96 Close 191.96 Close 191.96 Close 191.96

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.

Please check the current GBP/JPY Exchange Rate.

Check any Real-Time GBP/JPY Trades in Forum.

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