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Daily technical analysis of GBP/JPY By INSTAFOREX

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  #41  
Old 29-06-2017, 15:56
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Our yesterday's upside target of around 115 pips has been hit. We still expect GBP/JPY to continue its upside movement and place our target at 147.00. GBP/JPY is expected to continue its upside movement above 145.30. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index lacks downward momentum. The downside potential should be limited by the key support at 145.30.
Therefore, as long as this key level holds on the downside, look for a new challenge to 128.25 and even to 129.05 in extension.
Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 144.85 with the target at 144.00.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.




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  #42  
Old 30-06-2017, 17:01
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade with a bearish outlook. The pair is under pressure below the key resistance at 145.90 . The relative strength index is below its neutrality level at 50 and lacks upward momentum.
Therefore, as long as 145.90 is not surpassed, look for a return to 144.85 A break below this level would trigger a new decline to 144.15.
Alternatively, if the price moves in the opposite direction as predicted, a long position is recommended above 146.50 with the target at 147.00.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Strategy: SELL, Stop Loss: 145.90, Take Profit: 144.85.
Resistance levels: 146.50, 147.00, and 147.90
Support levels: 144.85, 144.15, and 143.15




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  #43  
Old 07-07-2017, 20:09
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

As predicted, our take profit target of GBP/JPY has been hit. GBP/JPY is still trading above its trend line. The pair posted a rebound at 146.00 and broke above both 20-period and 50-period moving averages. In addition, the 20-period moving average is turning up and is playing a support role. The relative strength index is above its neutrality level at 50.
To conclude, as long as 146.00 is not broken, look for a further rebound with targets at 47.30 and 147.70 in extension. Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 146.00 with the target at 146.25.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.




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  #44  
Old 13-07-2017, 15:53
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Our take profit target which we mentioned in yesterday's analysis has been hit. The pair signals further upside potential after its upward breakout of a bullish channel. The rising 20-period and 50-period moving averages are playing support roles and maintain the upside bias. The RSI is above its neutrality level at 50.
As long as 145.55 is seen as support, look for a further advance towards 146.80 and even 147.15.
Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 145.55 with the target at 145.25.

Chart Explanation:
the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 145.55, Take Profit: 146.80.
Resistance levels: 146.80, 147.15, and 147.50
Support levels: 145.25, 144.90, and 144.00




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  #45  
Old 20-07-2017, 20:23
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Overview
The GBP/JPY pair touched the 145.00 barrier yesterday and is rebounding now to show some bullish bias now, while the negative pressure is still valid as long as the price is stable below 147.65. This move is supported by the negative signal provided by stochastic, waiting to visit 144.00 followed by 142.65 levels that represent our main targets. Note that breaching 147.65 will turn the short-term trend to rise and head towards 150.96 as the first main target. The expected trading range for today is between 147.00 and 144.00




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  #46  
Old 21-07-2017, 17:28
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Our target which we predicted in yesterday's analysis has been hit. GBP/JPY is still under pressure. The pair is rebounding and has broken above its declining 20-period moving average.
The relative strength index is above its neutrality level at 50. Nevertheless,
145.70 is playing a key resistance role, which should limit the upside potential. As long as 145.70 holds on the upside, expect a return to 144.10. A break below this level would call for a further decline towards 143.20.
Alternatively, if the price moves in the opposite direction as predicted, a long position is recommended above 145.70 with the target at 146.25.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: SELL, Stop Loss: 145.70, Take Profit: 144.10.
Resistance levels: 146.25, 146.70, and 147.15
Support levels: 144.10, 143.20, and 142.45.




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  #47  
Old 26-07-2017, 23:35
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade with bullish outlook as far as support holds at 145.30. The pair is trading above its rising 20-period and 50-period moving averages, which are playing support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum.
In addition, 145.30 is playing a key support role, which should limit the downside potential. As long as this key level is not broken, look for further upside moves towards 146.30 and even 146.60 in extension.
Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 145.30 with the target at 144.95.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 146.30, 146.60, and 147.00
Support levels: 144.95, 144.45, and 143.75.




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  #48  
Old 28-07-2017, 03:24
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Overview
The GBP/JPY pair ended its positive fluctuation yesterday by providing new negative close below the key resistance at 147.60. Thus, the main outlook will remain bearish unless breaching this resistance, we will wait for the price to move towards the first target at 143.30 followed by attempting to test the main support at 141.40.

We should note that breaching the mentioned key resistance will end the bearish bias domination and start building new bullish bias and recording more positive targets that start at 148.80 followed by 150.95. The expected trading range for today is between 146.60 and 143.30.




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  #49  
Old 28-07-2017, 16:01
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Overview
The GBP/JPY pair repeated providing negative close below the main resistance level at 147.60 level, to confirm the domination of the bearish bias domination, by the above image, we notice stochastic attempt to form new bearish wave that opens the way towards gathering new negative momentum, which supports the attempt of renewing the negative attack, that targets 14.30 level as a first negative station, then wait until reaching the critical support at 141.40.

Note that surpassing 144.60 level for today is important to confirm surpassing the sideways fluctuation, to open the way towards resuming the negative attack and achieving the suggested targets. The expected trading range for today is between 147.00 and 143.50.




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  #50  
Old 02-08-2017, 09:31
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade in higher range. The outlook for this pair is positive above a rising trend line, which emerged on July 28. The rising 20-period and 50-period moving averages are playing support roles and maintain the upside bias. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum.
As long as 145.80 holds on the downside, look for a further advance towards 146.75 and even 147.35 in extension.
Alternatively, if the price moves in the opposite direction as predicted, a long position is recommended above 145.65 with the target at 145.60. Strategy: BUY, Stop Loss: 145.80, Take Profit: 146.75.

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates the bullish position and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 146.75, 147.35, and 148.00
Support levels: 145.40, 145.15, and 144.75.




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  #51  
Old 04-08-2017, 17:28
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Our first target which we predicted in Yesterday's analysis has been hit. Now the pair is under pressure and expected to trade in a lower range. The pair recorded a succession of lower tops and lower bottoms, which confirms a negative view. The relative strength index is below its neutrality level at 50 and lacks upward momentum. The declining 20-period and 50-period moving averages are playing resistance roles and maintain the downside bias.
As long as 145.35 holds on the upside, look for a further drop towards 143.90 and even 143.35 in extension.
Alternatively, if the price moves in the opposite direction as predicted, a long position is recommended above 145.35 with the target at 145.95.

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates the bullish position and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 145.90, 146.60, and 147.00
Support levels: 143.90, 143.35, and 142.75.




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  #52  
Old 10-08-2017, 23:47
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

We retain our yesterday's bearish outlook for GBP/JPY. The pair is trading in a lower range and is still expected to post some further downside moves. The relative strength index is around its neutrality level at 50 and lacks downward momentum. Nevertheless, 143.35 is playing a key resistance role, which should limit the upside potential.
As long as this key level at 143.35 is not broken, the pair is likely to test the next support at 141.90. A break below this level would call for a further decline towards 141.45.
Alternatively, if the price moves in the opposite direction as predicted, a long position is recommended above 143.35 with the target at 143.65.

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates the bullish position and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 143.65, 144.15, and 144.35
Support levels: 141.90, 141.45, and 140.65.




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  #53  
Old 18-08-2017, 17:48
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

All our targets which we predicted yesterday were met. GBP/JPY is still under pressure and expected to continue the downside movement. The pair remains weak below its falling 20-period and 50-period moving averages, and is expected to post further downsides. The process of lower highs and lows remains intact, which should confirm a negative outlook. Besides, the relative strength index is still bearish, without showing any reversal signals.
To conclude, as long as 141.20 is not surpassed, the risk of a slide below 139.20 remains high. Our next down target is set at 138.65.

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 141.50, 142.05, and 143.00
Support levels: 139.20, 138.65, and 138.00




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  #54  
Old 24-08-2017, 19:43
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade with bullish outlook above 139.65. The pair has bounced up from support at 139.25, which should limit the downside potential, and is holding on the upside. The rising 50-period moving average is playing a support role and suggests that the pair still has potential for a further advance. The relative strength index is above its neutrality level at 50 and lacks downward momentum.

Strategy: BUY, Stop Loss: 139.65, Take Profit: 140.80.
Chart Explanation:
the black line shows the pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 140.80, 141.10, and 142.00
Support levels: 139.25, 138.60, and 138.00




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  #55  
Old 01-09-2017, 10:09
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Our targets which we predicted in yesterday's analysis has been hit. we are still long on GBP/JPY as it is expected to trade with a bullish outlook. The intraday outlook remains positive on the prices. A support base at 130.95 has formed and has allowed for a temporary stabilization. In addition, the relative strength index is turning up and also broke above its neutrality area at 50, confirming a bullish outlook.
To sum up, as long as 142.25 is a support level, look for further advance to 143 and 143.35 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 142.25 with the target at 141.75.

Strategy: BUY, Stop Loss: 142.25, Take Profit: 143.00.

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 143.000, 143.35, and 143.85
Support levels: 141.75, 141.40, and 141.00




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  #56  
Old 07-09-2017, 15:34
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

The pair has clearly reversed up, and is likely to post a new rise in the coming trading hours. A bullish cross has been identified between the 20-period and 50-period moving averages (a positive signal). Besides, the relative strength index stands firmly above its neutrality area at 50. Hence, as long as 141.50 is not broken, likely advance to 142.70 and 143.01 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended above 141.50 with the target at 141.35.
Strategy: BUY, Stop Loss: 141.50, Take Profit: 142.70.

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.




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  #57  
Old 09-09-2017, 10:42
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is under pressure and expected to continue its downside movement. The pair formed an intraday "V-top" pattern last night and is clearly turning down. The nearest key resistance at 142.25 maintains the strong selling pressure on the prices. In addition, the 20-period moving average is about to cross below the 50-period one (a negative signal).
Therefore, as long as 142.25 is not surpassed, likely decline to 141.15 & 140.75 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a long position is recommended above 142.25 with the target at 142.70.

Chart Explanation:
the black line shows the pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.




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  #58  
Old 15-09-2017, 17:47
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

We will retain our yesterday's outlook of GBP/JPY. It is still expected to trade in a higher range. The pair is holding on the upside and is trading above its rising 20-period and 50-period moving averages, which play support roles. The relative strength index is above its neutrality level at 50.
To conclude, as long as 146.55 holds on the downside, look for a further rise to 48.50 and even to 149.10 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 146.55 with the target at 145.65.

Strategy: BUY, Stop Loss: 146.55, Take Profit: 148.50.
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 148.50, 149.10, and 149.60
Support levels: 145.65, 144.80, and 144.00




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  #59  
Old 15-09-2017, 17:58
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

All our targets which we predicted in yesterday's analysis has been hit. GBP/JPY is expected to continue its upside movement. The pair broke above the declining trend line, which confirmed a negative outlook. The upward momentum is further reinforced by the risining 50-period moving average. The relative strength index is bullish and is calling for another upside.
Hence, as long as 146.30 is not surpassed, look for a new test to 148.50 and even to 149.10 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 146.30 with the target at 145.30.

Strategy: BUY, Stop Loss: 146.30, Take Profit: 148.50.
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 148.50, 149.10, and 149.60
Support levels: 145.30 144.80, and 144.00




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  #60  
Old 06-10-2017, 16:34
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

The pair continued its decline and is currently testing the lower limit of the support zone (147.75). The immediate support, in the case of resumption of the decline, is located today on the daily Kijun (147). Further, the most strengthened and significant reference points for bears are levels 146.06 (week Tenkan) and 144.21-34 (weekly Kijun + week Senkou Span B + monthly Tenkan).

The players on the downgrade now retain full support for their moods and prospects from the indicator Ichimoku. The main benchmark for this decline from junior timeframes is the downside target for the breakdown of the H4 cloud, reinforced by the daily Kijun (147.00). The level of 147.75 (Tenkan H1 + historical high-tier level) has been the center of attraction, support and resistance for the last few hours, 148.43 (Tenkan H4 + Kijun N1 + historical level) and zone 149.24-57 (the final boundaries of the cross H4 + cloud H1 + levels of the senior half).




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  #61  
Old 12-10-2017, 18:37
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is under pressure and expected to continue its downside movement. The pair remains supported by its declining 50-period moving average, and is likely to post a new downside target. A strong resistance base around 148.40 has formed, and should also limit any upward attempts. The relative strength index lacks upward momentum.
Therefore, as long as 148.40 is not broken, further decline is expected to 147.40 and 147 in extension.

Alternatively, if the price moves in the direction opposite to the forecast, a long position is recommended above 148.40 with the target at 149.05.
Strategy: SELL, Stop Loss: 148.40, Take Profit:147.40

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 149.05, 149.50 and 150.05
Support levels: 147.40, 147.00, and 146.10




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  #62  
Old 13-10-2017, 13:48
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade witha bullish outlook. The pair is rebounding from its support around 148.50 and is likely to challenge its key resistance at 149.50, representing an intraday horizontal level. The relative strength index is also turning up, and calls for further advance. In addition, the 20-period moving average has crossed above the 50-period one (another bullish signal).
To conclude, as long as 148.50 is not broken, likely advance to 149.50 and 149.85 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 148.50 with the target at 148.00.

Strategy: BUY, Stop Loss: 148.50, Take Profit: 149.50
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 149.50, 149.85 and 150.35
Support levels: 148.00, 147.50, and 147.00




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  #63  
Old 20-10-2017, 13:57
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade with a bullish outlook above 148.20. The pair keeps trading on the upside after locating a key support at 148.20. The ascending 20-period moving average, which stands on the 50-period one, is providing extra support. And the relative strength index stays firm, showing sustained upward momentum for the pair. As intraday bullishness persists, the pair is expected to rise toward the first upside target at 149.40 and in extension, 149.90.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 148.20 with the target at 149.40.
Strategy: BUY, Stop Loss: 148.20, Take Profit: 149.40

Chart Explanation:
the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 149.40, 149.90 and 150.35
Support levels: 147.75, 147.25, and 146.80




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  #64  
Old 27-10-2017, 19:40
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Overview
Stochastic crawling below 80 level contradicted the GBPJPY pair's bullish attempts, to retest the initial support around 149.10, while the consolidation of this support around 50% Fibonacci correction level assists to reinforce the bullish bias domination and expect the attempt to gather new positive momentum to rally towards 151.60 level, while breaching this barrier will allow the price to record more targets that start at 152.80 followed by reaching 155.20.

Note that breaking the current support will postpone the bullish rally on the intraday basis until testing the next support at 147.30, to keep its stability within the main bullish channel that appears on the chart. The expected trading range for today is between 149.10 and 152.85.




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  #65  
Old 27-10-2017, 19:54
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

All our targets which we predicted in of Friday's analysis have been hit. GBP/JPY is trading in the upper range and expected to continue the movement. The pair located an intraday key support at 149.45 before bouncing to the upside and trading along the upper Bollinger band. Currently, it has been supported by the rising 20-period moving average, which stands above the 50-period one. The relative strength index remains at levels above the neutrality level of 50, suggesting continued upward momentum for the pair. The intraday outlook remains bullish, and the pair should proceed toward the first upside target at 150.55.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 148.20 with the target at 149.40.
Strategy: BUY, Stop Loss: 149.45, Take Profit: 150.55

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 150.55, 151.00 and 151.75
Support levels: 149.00, 148.60, and 148.00




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  #66  
Old 01-11-2017, 01:01
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

We will retain our yesterday's prediction on the pair. GBP/JPY is still expected to trade with bullish outlook. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the bullish bias. The relative strength index is bullish and calls for a further advance. The downside potential should be limited by the key support at 149.10.
Hence, as long as this key level is not broken, look for a new challenge with targets at 150.40 and 150.90 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 149.10 with the target at 148.60.

Strategy: BUY, Stop Loss: 149.10, Take Profit: 150.40
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 150.40, 150.90 and 151.45
Support levels: 148.60, 147.90, and 147.35




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  #67  
Old 03-11-2017, 15:33
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is under pressure. The pair is proceeding toward the nearest support at 149.90 while being capped by the descending 20-period moving average. Intraday bearishness is also maintained by the negatively-sloped 50-period moving average. The relative strength index is yet to recover the neutrality level of 50, showing a lack of upward momentum for the pair. A break below 148.20 would trigger a further decline toward 147.80.
Alternatively, if the price moves in the direction opposite to the forecast, a long position is recommended above 149.90 with the target at 150.65.

Strategy: SELL, Stop Loss: 149.90, Take Profit: 148.20
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 150.65, 151.40 and 152.05
Support levels: 148.20, 147.80, and 147.00




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  #68  
Old 15-11-2017, 21:29
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade with a bearish outlook. The pair accelerated on the downside and broke below the lower boundary of Bollinger Bands, which confirmed the continuation of the bearish trend. The relative strength index broke down its oversold level of 30.
To sum up, as long as 149.10 holds on the upside, a further drop to 148.00 and even to 147.70 seems more likely to occur.
Therefore, as long as 148.95 holds on the upside, look for a new decline to 148.00 and even to 147.75 in extension.

Strategy: SELL, Stop Loss: 149.10,
Take Profit: 148 Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 149.60, 150.00 and 150.50
Support levels: 148.00, 147.70, and 147.15




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  #69  
Old 16-11-2017, 20:58
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade with a bullish outlook. The pair stands firmly above its nearest support at 148.70, and is likely to post a new rebound towards 149.60. The 50-period moving average is still heading upward, and acts as a support role. In addition, the relative strength index is bullish above its neutrality area at 50.
In which case, as long as 148.70 is not broken, look for further advance to 149.60 and 150.00 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 148.70 with the target at 148.45.

Strategy: BUY, Stop Loss: 148.70, Take Profit: 149.60
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 149.60, 150.00 and 150.50
Support levels: 148.45, 148.10, and 147.70




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  #70  
Old 24-11-2017, 01:29
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Overview
No news for the GBP/JPY pair. Amid the lack of the bullish momentum, the pair is going on with extra sideways trading around 148.30. Therefore, we will keep waiting until the required bullish momentum is gained to resume the positive attack, that targets 150.00 and 151.50 levels mainly. Note that the price attempt to decline below the support at 147.35 will delay the bullish rally.

So we expect bearish correctional trading that might push it to reach 146.60 and 144.30. The expected trading range for today is between 147.35 and 150.00




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  #71  
Old 29-11-2017, 22:20
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Overview
The GBP/JPY pair managed to test the key support yesterday by declining towards 147.35. Following this sharp move, the pair started forming strong bullish waves to settle around 149.00 level. This reinforces our bullish outlook. Please note that stochastic's rally above 50 will confirm the domination of the expected bullish bias. Therefore, we will be waiting for new positive pressure towards 150.00 that forms the first positive target. Besides, note that breaching this barrier will allow the price to record more targets that start at 151.50 followed by 152.85.

The expected trading range for today is between 148.20 and 150.00




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  #72  
Old 01-12-2017, 17:16
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

All our upside targets which we predicted in yesterday's analysis have been hit. The pair remains on the upside, supported by its rising trend line. Both the 20-period and 50-period moving averages are heading upward, which should confirm a positive outlook. In addition, a strong support base at 151.45 has formed, and should limit any downside room.
In which case, as long as 151.45 is not broken, likely advance to 153.35 and 154 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 151.45 with the target at 150.75
Strategy: BUY, Stop Loss: 151.45, Take Profit: 153.35

Chart Explanation:
the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 153.35, 154.00, and 154.60
Support levels: 150.75, 149.90, and 149




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  #73  
Old 15-12-2017, 14:32
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to continue its downside movement and we are going to retain our yesterday's outlook. The pair is holding on the downside. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index calls for another decline.
To conclude, as long as 151.95 is not surpassed, look for a new test with targets at 150.50 and 150.00 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a long position is recommended above 151.95 with the target at 152.40
Strategy: SELL, Stop Loss: 151.95, Take Profit: 150.50

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 152.40, 152.85, and 153.15
Support levels: 150.50, 150.00, and 149.45




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  #74  
Old 22-12-2017, 15:35
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Our upside target which we predicted in the previous analysis has been hit. Turning up. The pair posted a rebound from 149.45 and broke above its 20-period and 50-period moving averages. In addition, the 20-period moving average turned up and crossed above the 50-period one. The relative strength index is above its neutrality level at 50.
To conclude, as long as 151.25 holds on the downside, look for a further rebound with targets at 152 and 152.35 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 151.25 with the target at 151.00

Strategy: BUY, Stop Loss: 151.25, Take Profit: 152.00
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 152.00, 152.35, and 153.00
Support levels: 151.00, 150.75, and 150




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  #75  
Old 22-12-2017, 15:44
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

On the 4-hour chart of the British pound against the Japanese yen cross pair, conditions for changing the direction of the inter-week trend are prepared. The downward construction started on September 21 at the end of the trend wave. It develops into a flat range along the lower boundary of a powerful zone with a potential reversal. Today, the middle section (B) is nearing completion.
There is a potential for the downward segment of the chart from December 8 to begin the reversal pattern. This scenario would counter the bullish plot of 15 numbers. In this case, the resistance boundaries should become the zone of change in the basic motion vector of the quotation.
In the next trading sessions, these actions are expected: completion of the recovery, the reversal and the beginning of the price downward movement.

Boundaries of resistance zones:
- 152.20 / 50
Boundaries of support zones:
- 151.10 / 150.80




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  #76  
Old 27-12-2017, 18:24
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Overview
The GBPJPY pair was forced to provide sideways trading recently due to the contradiction of the major indicators, as stochastic fluctuates below 50 level, while the moving average 55 settles below the current price. Consolidation within the bullish channel besides the stability of the initial support at 150.00 allows us to continue suggesting the bullish bias domination that targets 152.85 followed by 154.20.

On the other hand, the price attempt to crawl below the initial support will confirm postponing the bullish rally and move to suffer losses that start at 148.25 followed by 146.60 to test historical support as appears on the above chart. The expected trading range for today is between 150.60 and 152.85




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  #77  
Old 28-12-2017, 19:41
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

All our targets which we predicted in Yesterday's analysis have been hit. The pair managed to hold above its horizontal support at 151.20, and is likely to challenge the next resistance at 0.8895. A bullish breakout of this threshold seems more likely to occur, as both the 20-period and 50-period moving averages are turning up, and should confirm a positive outlook. The relative strength index calls for a new rise.
Hence, above 151.20, look for 152.10 and 152.35 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 151.20 with the target at 150.70

Strategy: BUY, Stop Loss: 151.20, Take Profit: 152.10
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 152.10, 152.35, and 152.70
Support levels: 151.00, 150.75, and 150




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  #78  
Old 03-01-2018, 21:35
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

GBP/JPY is expected to trade with a bullish outlook. The pair is supported by a rising trend line, which confirmed a positive outlook. The upward momentum is further reinforced by the rising 50-period moving average. The relative strength index calls for a new upleg.
To sum up, above 151.90, look for a new challenge with targets at 153 and 153.70 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 151.90 with the target at 151.45
Strategy: BUY, Stop Loss: 151.90, Take Profit: 153.00

Chart Explanation:
the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 153.00, 153.70, and 154.15
Support levels: 151.45, 151.00, and 150.65




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  #79  
Old 18-01-2018, 15:16
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

All our upside targets which we predicted in the previous analysis have been hit. The pair is moving upward and is expected to challenge the next resistance at 154.25. The 20-period moving average is turning up now and calls for a new rise. Additionally, the relative strength index managed to break above its neutrality area at 50, confirming a positive outlook.
Therefore, as long as 153.10 is not broken, likely advance to 154.25 and 165.95 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 153.10 with the target at 152.50

Strategy: BUY, stop loss at 153.10, take profit at 154.25
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot point, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 154.25, 154.95, and 155.50.
Support levels: 152.50, 152.00, and 151.45




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  #80  
Old 23-01-2018, 15:17
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Default Re: Daily technical analysis of GBP/JPY By INSTAFOREX

Overview
The GBP/JPY pair is still gaining momentum. The bullish bias is confirmed by rallying towards 155.33 level recently. Besides, we will depend on 152.85 level, forming a good support base. Let me remind you that the first main target is located around 155.90, but further positive pressures might allow the price to reach the next target at 157.45.

A stochastic's attempt to crawl towards the overbought areas also confirms the overall bullish trend. A new positive momentum eases attempts to reach the suggested targets. The expected trading range for today is between 153.50 and 155.90




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