News & Analysis at your fingertips.

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
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bearish
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
USD/JPY
Bullish
More View more
Real Time News
  • Trader confidence is relatively buoyant in the currency markets, benefiting FX pairs such as EUR/USD, GBP/USD and AUD/USD at the expense of the safe-haven US Dollar. Get your market sentiment update from @MartinSEssex here: https://t.co/ir7hXNfxec https://t.co/2IwbcrkrM5
  • Join @JStanleyFX 's #webinar at 1:00 PM ET/5:00 PM GMT for his weekly update on trading price action. Register here: https://t.co/ZCcMdyaTsB https://t.co/xn5x2AG5vI
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.16% Germany 30: -0.17% France 40: -0.17% US 500: -0.63% Wall Street: -0.81% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/z1qnxoAWz7
  • Reports of German Chancellor Merkel saying EU recovery funds will be increasingly delayed came just as $EURUSD was struggling with former support (H&S neckline) as new resistance. When fundamentals and technicals converge... https://t.co/BDvM9DXBW6
  • Heads Up:🇩🇪 Bundesbank Mauderer Speech due at 16:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-29
  • Germany says blockades in recovery fund discussions are increasing $EUR
  • #Euro #Dollar Outlook: $EURUSD Bounce Faces First Test- #NFP Levels - https://t.co/iZ6GNXpZsj https://t.co/tUclkQPTr1
  • SPX reaction to First Presidential Debate via LPL Research. Also, back in 2016, Hilary Clinton was judged to have won all three debates vs Trump (we all know what happened after) https://t.co/r0Cba6EUSl
  • first presidential debate tonight... interested in what you think $SPX will price-in afterwards? Will US stocks continue the rally from the Thursday lows? https://t.co/NkTGtvOwrd
  • Do you think the S&P 500 will continue its rally from 3,200 after the Presidential Debate passes tonight?
GBP/JPY Technical Analysis: Bounce Hinted at Trend Line

GBP/JPY Technical Analysis: Bounce Hinted at Trend Line

2015-03-19 04:13:00
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: 178.64, 176.31, 174.80
  • Resistance: 180.47, 181.86, 182.98

The British Pound may be preparing to turn higher against the Japanese Yen after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci expansion at 180.47 exposes the 181.58-86 area (support-turned-resistance, 38.2% level). Alternatively, a push below rising trend line support at 178.64 opens the door for a test of triple bottom support at 176.31.

Prices are too close to resistance to justify entering long from a risk/reward perspective. On the other hand, the absence of a defined bearish reversal signal suggests that taking up the short 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: Bounce Hinted at Trend Line

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