GBP/JPY Analysis - Feb 11, 2014

GBP/JPY Daily and Hourly Charts

GBP/JPY Hourly Chart     

GBP/JPY analysis - hourly chart

GBP/JPY Daily Chart     

GBP/JPY technical analysis - daily chart

 

GBP/JPY Daily Technical Analysis

Current Exchange Rate: 168.40 at the time of analysis update.

Intraday outlook: mildly bullish outlook.

GBP/JPY's Latest Analysis (February 11, 2014): The strong upward jump which broke over the expected resistance of 167.77 to 168.34 zone makes the outlook mildly bullish. However the current price-action is struggling against the 22-day EMA. On the upside any break over 168.50 should target the 55-day EAM resistance i.e. 168.80. However, we remain cautious for the upside because the approaching psychological level of 170.00 may cause some unexpected and volatile moves, Saying that we wish to add that overall we expect that the possibilities of further gains are more than another significant fall. 

On the upside any decisive break over 169.30 will come as the second indication that the consolidation might already ve over and we can now focus back towards upside. However on the downside 167.20 will come as an indication for a possible drop towards 166.60 or more.

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 (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
R3 173.7 R3 173.35     R3 172.78
R2 173.35 R2 173.07 R2 173.34 R2 172.71
R1 172.97 R1 172.9 R1 172.95 R1 172.65
Pivot 172.62 Pivot 172.62 Pivot 172.61 Pivot 172.62
S1 172.24 S1 172.34 S1 172.22 S1 172.51
S2 171.89 S2 172.17 S2 171.88 S2 172.45
S3 171.51 S3 171.89     S3 172.38
Open 172.43 Open 172.43 Open 172.43 Open 172.43
High 173.01 High 173.01 High 173.01 High 173.01
Low 172.28 Low 172.28 Low 172.28 Low 172.28
Close 172.58 Close 172.58 Close 172.58 Close 172.58

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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