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
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
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
Mixed
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇬🇧 Markit/CIPS Composite PMI Flash (OCT) due at 08:30 GMT (15min) Expected: 53.9 Previous: 56.5 https://www.dailyfx.com/economic-calendar#2020-10-23
  • Heads Up:🇬🇧 Markit/CIPS UK Services PMI Flash (OCT) due at 08:30 GMT (15min) Expected: 54 Previous: 56.1 https://www.dailyfx.com/economic-calendar#2020-10-23
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Flash (OCT) due at 08:30 GMT (15min) Expected: 53.1 Previous: 54.1 https://www.dailyfx.com/economic-calendar#2020-10-23
  • 🇵🇱 Unemployment Rate (SEP) Actual: 6.1% Expected: 6.1% Previous: 6.1% https://www.dailyfx.com/economic-calendar#2020-10-23
  • 💶 Markit Manufacturing PMI Flash (OCT) Actual: 54.4 Expected: 53.1 Previous: 53.7 https://www.dailyfx.com/economic-calendar#2020-10-23
  • 💶 Markit Composite PMI Flash (OCT) Actual: 49.4 Expected: 49.3 Previous: 50.4 https://www.dailyfx.com/economic-calendar#2020-10-23
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.62%, while traders in NZD/USD are at opposite extremes with 71.02%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HNyEZ25b4K
  • Heads Up:💶 Markit Manufacturing PMI Flash (OCT) due at 08:00 GMT (15min) Expected: 53.1 Previous: 53.7 https://www.dailyfx.com/economic-calendar#2020-10-23
  • Heads Up:💶 Markit Composite PMI Flash (OCT) due at 08:00 GMT (15min) Expected: 49.3 Previous: 50.4 https://www.dailyfx.com/economic-calendar#2020-10-23
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/VYBNrPN7aQ
GBP/JPY Technical Analysis: Downturn Clues Re-Emerge

GBP/JPY Technical Analysis: Downturn Clues Re-Emerge

2015-06-26 02:34:00
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: 193.85, 192.80, 190.91
  • Resistance: 195.48, 197.50, 199.51

The British Pound is consolidating gains after rising to the highest level in seven years against the Japanese Yen. A daily close above the 38.2% Fibonacci expansion at 195.48 exposes the 50% level at 197.50. Alternatively, a reversal below trend line support at 193.85 clears the way for a test of the 14.6% Fib retracement at 192.80. Negative RSI divergence argues in favor of a downside scenario.

Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.

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

GBP/JPY Technical Analysis: Downturn Clues Re-Emerge

--- 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