Skip to Content
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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
GBP/JPY Technical Analysis: Candle Setup Hints at Reversal

GBP/JPY Technical Analysis: Candle Setup Hints at Reversal

Ilya Spivak,

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

Talking Points:

  • GBP/JPY Technical Strategy: Flat
  • Support: 186.87, 185.74, 184.60
  • Resistance: 188.27, 190.53, 192.80

The British Pound may turn lower against the Japanese Yen after putting in a Shooting Star candlestick with negative RSI divergence. A daily close below the 61.8% Fibonacci expansionat 186.87 exposes the 50% level at 185.74. Alternatively, a turn above the 76.4% Fib at 188.27 opens the door for a test of the 100% expansion at 190.53.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

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

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for

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