Sentiment on GBPJPY Turns Bias Sideways as It Looks to Retest Resistance on the Level at 141.50

27 November 2019 | Updated: 27 November 2019

GBPJPY Price Analysis – November 27

Against the pound sterling, the Japanese yen has recently experienced a decline in its net position. This briefly pushed the outlook for GBPJPY Sentiment to strengthen the position of buyers. As such, the combination of current sentiment and recent changes gives us a more contrasted GBPJPY trading bias.

Key Levels

Resistance Levels: 148.66, 146.57, 141.57
Support Levels: 135.49, 130.44, 126.54

GBPJPY Long term Trend: Bullish

Overall, the consolidation pattern of the level at 126.54 (low) is still in progress, with a rise of 130.44 as further reinforcement. A further advance is expected around the resistance zone on the level at 146.57 / 148.66.

As of now, we anticipate solid resistance from there to limit advance. Towards the downside, a sustained breakout of the level at 135.49 may suggest that this rebound is complete. Although further plunge may be discovered to retest the level at 126.54 low.

GBPJPY Short term Trend: Bullish

The GBPJPY remains in consolidation from the level at 141.57 and intra-day bias stays neutral for the first time. On the downside, a breakout of the level at 139.36 may point to a short-term high.

A further plunge may then be discovered on the level at 135.49, the revolving resistance maintained at first. Towards the upside, the breakout of the level at 141.57 may pick up, going from the level at 126.54 to a resistance of the level at 148.66, The outlook stays bullish, displaying an intact uptrend in the short, medium and long-term.

Instrument: GBPJPY
Order: Buy
Entry price: 141.57
Stop: 138.88
Target: 148.66

Note: Learn2Trade.com 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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • 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
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.