GBPJPY Is Moving Towards a Sideways Trend for the Umpteenth Time

GBPJPY Price Analysis -November 20

During the last one month, the GBPJPY’s price has traded on the upside between the horizontal level at 141.50 and the level at 138.88 while testing the top and the bottom of the formed channel in a sideways trend. However, in today’s trading session, the FX pair has broken below Tuesdays low.

Key Levels
Resistance Levels: 148.66, 146.57, 141.50
Support Levels: 138.88, 135.49, 126.54

GBPJPY Long term Trend: Bullish

By and large, the GBPJPY pair may most likely continue to edge lower within this session. The potential target will be near term targets on the level at 138.88. In the longer term, the consolidation structure from the level at 126.54 (low) is still in progress.

A further advance may be seen back to the level at 146.57/148.66 resistance zone. And currently, there is an anticipation of a solid resistance from there to contain its advance. While this may stay intact as the likely scenario as long as the level at 135.49 resistance turned support remains.

GBPJPY Short term Trend: Ranging

In spite of a strong opening, the market may close below the prior day’s open and close, forming a bearish pattern. Meanwhile, the intraday bias in GBPJPY stays neutral and further advance is possible with the level at 139.36 near term support intact.

The firm break of the level at 141.50 may further the advance from the level at 136.44 and target horizontal zone resistance (now at 146.57). However, a break of the level at 139.36 may shift bias to the downside for a further retracement to the level at 135.49 resistance turned support.

Instrument: GBPJPY
Order: Buy
Entry price: 139.36
Stop: 136.44
Target: 146.57

In a Lackluster Momentum, GBPJPY Trends Within the Prior Day’s Range

GBPJPY Price Analysis – November 13

GBPJPY is trending within the prior day’s range after its unable to build on its gains recent gains as the sellers tried to take advantage and may end the day below its opening price but in a lackluster momentum.

Key Levels

Resistance Levels: 148.66, 146.57, 141.50

Support Levels: 135.49, 130.44, 126.54

GBPJPY Long term Trend: Bullish

In the daily picture, the consolidating structure from the level at 126.54 (low) remains in a formative stage with the advance from the level at 130.44 as the second stage. However, a further advance may be recorded back to the level at 146.57/148.66 resistance.

Meanwhile, for the current scenario, solid resistance from here expects to restrain the upward advance. Although, this may stay as the favored scenario for as long as the level at 135.45 resistance turned support remains.

GBPJPY Short term Trend: Ranging

On the flip side of the 4-hour time frame, the intraday bias of the FX pair stays neutral as the consolidation from the level at 141.50 is extending. Whereas a deeper plunge here may not be out of consideration.

Nevertheless, the downward momentum may be contained above the level at 135.49 resistance turned support to bring about another bounce upside where the break of the level at 141.50 may reactivate the advance from the level at 126.54 towards the 148.66 key resistance.

Instrument: GBPJPY
Order: Buy
Entry price: 135.49
Stop: 130.44
Target: 146.57

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

GBPJPY Upside Potential Limited by Resistance as the Sideways Trend Extends Further

GBPJPY Price Analysis – November 6

GBP has gone to and fro versus JPY in the course of the most recent few weeks, essentially processing additions from the enormous spike higher that we had seen beforehand. However, the pair has been in a consolidating trend since the start of the trading session and therefore we may continue to see this trend go higher eventually.

Key Levels

Resistance Levels: 148.66, 146.57, 141.50

Support Levels: 135.49, 130.44, 126.54

GBPJPY Long term Trend: Bullish

In the longer term, the consolidation structure from the level at 126.54 (low) is effective with the advance from the level at 130.44. Meanwhile, a further advance may be seen to continue to the level at 146.57/148.66 resistance zone.

However, as it is now, the expectation of a solid resistance from there is to limit the upside zone while this may stay as the likely scenario as long as the level at 130.44 support holds. The outlook displays an intact bullish trend in the short and longterm.

GBPJPY Short term Trend: Bullish

On the flip side of the 4-hour time frame, the intraday bias in GBPJPY stays neutral as consolidation from the level at 141.50 is extending. While another crash may not be ruled out, however, the downside may be restricted above the level at 135.49 resistance turned support to bring another rally.

Another scenario from the upside shows that a break of the level at 141.50 may resume the advance from the level at 126.54 to the level at 148.66 key resistance.

Instrument: GBPJPY
Order: Buy
Entry price: 141.50
Stop: 135.49
Target: 146.57

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

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: 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

GBPJPY Test Horizontal Resistance Zone but Retraces to Break Beneath Prior Session Low

GBPJPY Price Analysis – October 23

The FX pair’s upward advance is solidified after the break of the horizontal level at 140.07 with the high in the prior session reaching the level at 141.12 before breaking below. The low in the present session had reached the level of 139.08.

Key Levels

Resistance Level: 148.66, 146.57, 144.51

Support Level: 136.44, 130.44, 126.54

GBPJPY Long term Trend: Bullish

In the long term picture, GBPJPY’s consolidation outlook from the level at 126.54 (low) is still in progress while advancing from the level at 130.44 as the next phase of recovery, a further rise should be seen back towards the level at 146.57 and 148.66 resistance zone.

Meanwhile presently, with the expectation of the strong resistance from there to limit the advance upside. Then this scenario may remain the likely pattern as long as the level at 130.44 support stays unbreached.

GBPJPY Short term Trend: Bullish

For now, the intraday bias in GBPJPY has changed from bullish to neutral for its consolidation beneath the level at 141.49 temporary high. A deeper retracement may be achieved but its downside should be contained by the level at 136.44 resistance turned support.

On the upside, above the level at 141.49 will resume the rise from the level at 130.44 for the level at 148.66 key resistance as displayed on the daily. The outlook is bullish, displaying an intact uptrend in the short, and long-term.

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

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

The GBPJPY Is Dominated by Bulls Lifting Its Price Higher Throughout the Session

GBPJPY Price Analysis – October 16

The bulls were in full control today on the GBPJPY, moving the price higher throughout the whole session. Opening above Tuesday’s low on the level at 139.13, the forex pair confirmed its breakout through the prior session high after trading up and above it intraday.

 

Key Levels

Resistance Levels: 148.66, 146.57, 141.73

Support levels: 137.48, 135.49, 130.44

GBPJPY Long term Trend: Bullish

In the past four trading sessions, the pair has gained to the upside more than 800 pips, rallying to 140.07 from 130.75 early on Friday. In the long term outlook, the FX pair is at the highest levels since May and resistance has now turned to support.

This scenario may inspire a potential buying climax after which prices could head back down towards the moving average 13 on the level at 133.99 or signal the start of a solid breakout prompting considerably more significant upward move.

GBPJPY Short term Trend: Bullish

On the flip side of the 4-hour time frame, the intraday bias in GBPJPY stays on the upside at this point. And the current rise from the level at 130.44 is in progress for a retracement of the level at 146.57 to 130.44 at 140.07.

Meanwhile a firm break there will pave the way to the level at 148.66 resistance next, its outlook remains bullish while displaying an intact uptrend in the short and long-term trend.

Instrument: GBPJPY
Order: Buy
Entry price: 140.07
Stop: 133.99
Target: 148.66