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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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