GBPJPY Is Restricted Within a Tight Trading Range as Buyers Attempt to Seize Control Again

GBPJPY Is Restricted Within a Tight Trading Range as Buyers Attempt to Seize Control Again

GBPJPY Price Analysis – October 30

The FX pair is seeing a slight upward momentum at the beginning of the European session with the GBPJPY inching towards the upper zone to test the horizontal line on the level at 141.50. Currently, the pair is attempting to break out from its tight trading range to the upside.

Key Levels

Resistance Levels: 148.66, 146.57, 144.51

Support Levels: 135.49, 130.44, 126.54

GBPJPY Long term Trend: Bullish

In the daily picture, the consolidation structure from the level at 126.54 (low) is still forming with an upward advance from the level at 130.44 in full activity. However, a further advance may be seen back to the level at 146.57/148.66 resistance area.

Although, a solid resistance from here may likely suffice to limit the upside. And whereas this scenario may stay as the most anticipated setting as long as the level at 130.44 support holds. The overall outlook is bullish, displaying an intact uptrend in the long-term.

GBPJPY Short term Trend: Ranging

On the flip side, the intraday bias in the GBPJPY stays neutral in the current session except otherwise and the consolidation from the level at 141.50 may extend in a range like a manner.

Meanwhile next, a subsequent plunge may not be ruled out, however, the downside may be contained above the level at 135.49 resistance turned support to initiate another resumption of the uptrend.

Instrument: GBPJPY
Order: Buy
Entry price: 140.07
Stop: 130.44
Target: 146.57

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
Share with other traders!

Author : Azeez Mustapha


Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.