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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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