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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Wrote about something similar back in April: https://t.co/4tRHHWZH4r https://t.co/ey3QtOA2oj
  • Geopolitical risks impacting markets in the week ahead: #AUD May Fall on US-China Trade Deal Fears, #CrudeOil Eyes #OPEC Meeting- https://www.dailyfx.com/forex/fundamental/article/special_report/2020/07/13/AUD-May-Fall-on-US-China-Trade-Deal-Fears-Crude-Oil-Eyes-OPEC-Meeting.html
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/wSHeU7aRoX
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2.1% Previous: -7.7% https://www.dailyfx.com/economic-calendar#2020-07-13
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2.1% Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2,1% Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.93%, while traders in US 500 are at opposite extremes with 76.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/TRp6GF9snQ
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.32% 🇬🇧GBP: 0.27% 🇪🇺EUR: 0.24% 🇨🇭CHF: 0.16% 🇯🇵JPY: 0.09% 🇳🇿NZD: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/O81hxQPBpL
  • Heads Up:🇯🇵 Tertiary Industry Index MoM (MAY) due at 04:30 GMT (15min) Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.31% France 40: 1.23% FTSE 100: 0.94% Wall Street: 0.64% US 500: 0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YSclbAH1mY
GBP/JPY Technical Analysis: Key Support Above 181.00 Mark

GBP/JPY Technical Analysis: Key Support Above 181.00 Mark

2015-01-05 23:23:00
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: 181.41, 178.85, 176.29
  • Resistance: 184.58, 186.53, 187.53

The British Pound is testing December’s swing bottom against the Japanese Yen having entered 2015 facing heavy selling pressure. Near-term support is at 181.41-60 area, marked by the December 16 low and the 38.2%Fibonacci retracement, with a break below that on a daily closing basis exposing the 50% level at 178.85. Alternatively a reversal above the 23.6% Fib at 184.58clears the way for a challenge of the 14.6% retracement at 186.53.

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: Key Support Above 181.00 Mark

Daily Chart - Created Using FXCM Marketscope

--- 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.