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.



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
Oil - US Crude
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
More View more
Real Time News
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: #DailyFXGuides
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:
GBP/JPY Technical Analysis: Bullish and Bursting to 4-Month Highs

GBP/JPY Technical Analysis: Bullish and Bursting to 4-Month Highs

James Stanley, Strategist

To receive James Stanley’s Analysis directly via email, please sign up here.

Talking Points:

In our last article, we looked at the recently re-fired up-trend in GBP/JPY. As we had looked at, the pair put in a massive reversal on the heels of the U.S. Presidential Election; but this top-side burst has been a bit longer in the making. Only a month earlier we were seeing weakness in both currencies, and the pair had little signs of life, producing a 200-pip channel near long-term support values. But with the potential for a bullish reversal in GBP, as seen in GBP/USD; combined with the potential for Yen-weakness as driven by implications around the Bank of Japan; the pair had the makings of what could lead to big moves in the weeks ahead. When GBP/JPY popped-higher by 800-pips in the 3 days after the Presidential election, a bullish trend began to show, and in our last article we looked at entry methodology to jump-in on the long-side of that trend.

Just a day and a half after that most recent article, the support level that we were watching for re-entry at 135.50 came into play, and an analyst pick was issued on the long setup. The aggression behind the bullish move has already propelled price action through three of our four targets.

Moving forward, traders would likely want to assign a top-side trend bias here, at least in the near-term, as the potential for further convergence of macro and technical forces can continue to drive the pair higher. Near-term resistance levels can be sought out at 140.96 (Fibonacci level), 142.50 (major psychological level), and then 143.23 (post-Brexit swing-high). For traders looking for support for either re-entry or for stop placement, levels at 138.83 (prior swing-high from September) and then 137.50 (major psychological level, previous swing-low) could be operative for such an approach.

GBP/JPY Technical Analysis: Bullish and Bursting to 4-Month Highs

Chart prepared by James Stanley

--- Written by James Stanley, Analyst for

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Contact and follow James on Twitter: @JStanleyFX

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