We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • LIVE IN 30 MIN: : In this session, Currency Analyst @ZabelinDimitri will analyze the cross-asset impact of geopolitical risks affecting markets in the week ahead. https://www.dailyfx.com/webinars/146770987
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/9PL0a6oCMD
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.20% Gold: -0.32% Silver: -0.63% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gMZdyMsJMi
  • $AUD May Fall on Australia-China Tensions, #Euro Eyes €500b Proposal - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/05/25/AUD-May-Fall-on-Australia-China-Tensions-Euro-Eyes-500b-Proposal.html EUR/AUD forecast included
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.08% 🇬🇧GBP: 0.07% 🇯🇵JPY: -0.02% 🇦🇺AUD: -0.05% 🇨🇭CHF: -0.08% 🇪🇺EUR: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/WlCujJCWkP
  • LIVE NOW: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • The Australian Dollar market is headed for a bare domestic data cupboard which will once again leave overall market risk appetite in charge. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/PaURQyZN79 https://t.co/XGcZEGFX91
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.12%, while traders in US 500 are at opposite extremes with 79.33%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6yxLb0Zhsi
  • AUD/USD Technical Analysis: False Break Higher to Mark Top? - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/05/25/AUDUSD-Technical-Analysis-False-Break-Higher-to-Mark-Top.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #AUDUSD #technicalanalysis https://t.co/8mOURfT0hp
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
GBP/JPY Technical Analysis: Top Hinted Below 185.00 Figure

GBP/JPY Technical Analysis: Top Hinted Below 185.00 Figure

2014-11-10 02:59:00
Ilya Spivak, Head Strategist, APAC
Share:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • GBP/JPY Technical Strategy: Flat
  • Support: 181.92, 180.46, 178.07
  • Resistance: 183.22, 184.53, 186.65

The British Pound may have set a top against the Japanese Yen after prices put in a bearish Dark Cloud Cover candlestick pattern. Near-term support is at 171.92, the 14.6% Fibonacci retracement, with a break below that exposing the 23.6% level at 180.46. Alternatively, a reversal above the 14.6% Fib expansion at 183.22 clears the way for a challenge of the 23.6% threshold at 184.53.

Prices are too close to support to justify entering short from a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal suggests that taking up the long side is premature. With that in mind we will remain flat for now.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

GBP/JPY Technical Analysis: Top Hinted Below 185.00 Figure

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.