International Business Times

GBP/JPY Weekly Technical Analysis

GBP/JPY Weekly Outlook

GBP/JPY's rally from 120.82 extended last week and reached as high as 127.25. Initial bias remains on the upside and the current rebound from 118.81 should continue to 100% projection of 118.82 to 125.82 from 120.82 at 127.82 next. On the downside, break of 124.41 support is needed to signal short term topping. Otherwise, outlook will stay bullish even in case of retreat.

Sep 16, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY jumped to as high as 126.19 last week before forming a temporary top there and retreated. Initial bias is turned neutral this week for some consolidations first. But downside should be contained above 123.69 support and bring another rally. The break of 125.82 resistance confirmed resumption of whole rebound from 118.82. Above 126.19 will target 100% projection of 118.82 to 125.82 from 120.

Sep 10, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY's consolidation from 125.51 continued last week. Initial bias remains neutral for more choppy sideway trading. Note again that as long as 123.26 minor support holds, we'd expect rise from 120.82 to continue. Decisive break of 125.51/82 resistance zone will confirm resumption of whole rebound from 118.82 and should target 100% projection of 118.82 to 125.82 from 120.82 at 127.

Sep 03, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY's rally last week firstly indicates that choppy pull back from 125.82 is completed at 120.82 already. Secondly, rebound from 118.82 could finally be resuming. Initial bias remains on the upside this week for 125.82 first. Break will confirm the bullish case and target 100% projection of 118.82 to 125.82 from 120.82 at 127.82 next. On the downside, though, below 123.

Aug 18, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY continued to gyrate inside range of 120.82/123.77 last week and near term outlook remains neutral for the moment. On the upside, break of 123.77/79 resistance will confirm completion of the pull back from 125.82. More importantly, this will argue that whole rebound from 118.82 is resuming for 125.82 and above. On the downside, however, break of 120.82 will extend the decline from 125.

Aug 12, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY failed to break through 123.79 resistance last week and retreated sharply. The development mixed up recent outlook and we'll stay neutral first. On the upside, break of 123.77/79 resistance will confirm completion of the pull back from 125.82. More importantly, this will argue that whole rebound from 118.82 is resuming for 125.82 and above. On the downside, however, break of 120.

Aug 05, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY rebounded strongly after initial dive to 120.82 last week. The sustained trading above 4 hours 55 EMA argues that choppy decline from 125.82 has finished already. Initial bias remains mildly on the upside for 123.79 resistance. Decisive break there will confirm this bullish case. More importantly, it will argue that whole rebound from 118.82 is resuming for 125.82 and above.

Jul 30, 2012 | IBTimes HK

GBP/JPY Weekly Outlook

GBP/JPY dipped to as low as 122.03 last week but lacked follow through selling since then and recovered strongly. Initial bias is neutral this week for some consolidations first. At this point, we're mildly favoring the case that corrective rebound from 118.82 is finished at 125.82 already, after hitting 55 days EMA. As long as 124.

Jul 14, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY failed to take out 125.82 resistance last week and dropped sharply since then. But downside is so far still contained above 122.86 minor support. Initial bias remains neutral this week with focus on 122.86 minor support. Break there will indicate completion of the corrective rise from 118.82. In such case, bias will be flipped back to the downside for retesting 118.82 low first.

Jul 08, 2012 | ActionForex

GBP/JPY Weekly Outlook

After dipping to 122.86 initially, GBP/JPY staged a strong rebound last week. The development suggests that rise from 118.82 is noted finished yet and is likely ready to resume. Initial bias remains on the upside this week for 125.82 first. Break will target 127.10 resistance next. The development, with strong momentum also argue that fall from 133.48 might be over at 118.82 already. Break of 127.

Jul 01, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY's corrective rebound from 118.82 extend further last week. While further rise could still be seen, we'd be cautious on reversal as it approaches 127.10 support turned resistance. Upside momentum is seen diminishing. On the downside, break of 122.12 will now indicate that corrective rise from 118.82 is finished and larger decline from 133.48 is resuming for a test on 116.83/117.

Jun 24, 2012 | ActionForex

GBP/JPY Weekly Outlook

GBP/JPY stayed in tight range below 124.34 last week. Initial bias remains neutral and consolidative trading could be seen. On the downside, below 121.90 will indicate that rebound from 118.82 is already completed and will flip bias back to the downside this support Break will resume the whole fall from 133.48 to 116.83/117.29 support zone. However, break of 124.34/64 will extend such rise to 127.

Jun 17, 2012 | ActionForex

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