Technical analysis of GBP/JPY for December 02, 2016
December 2, 2016 4:20 amVideo
Latest News
- Market Comment – Euro skids after ECB hike, China data lifts sentiment September 15, 2023
- Forex forecast 09/15/2023 EUR/USD, AUD/USD, NZD/USD and Bitcoin from Sebastian Seliga September 15, 2023
- Forex forecast 09/15/2023 EUR/USD, AUD/USD, NZD/USD and Bitcoin from Sebastian Seliga September 15, 2023
- BTC update for September 15, 2023 – Potential for the further downside movement September 15, 2023
- EUR/USD and GBP/USD: Trading plan for beginner traders on September 15, 2023 September 15, 2023
- Overview of the GBP/USD pair on September 15, 2023 September 15, 2023
- Analysis of Gold for September 15, 2023 – Potential for the further downside movement September 15, 2023
- Overview of the EUR/USD pair. September 15th. The ECB made a somewhat unexpected decision September 15, 2023
- Video market update for September 15, 2023 September 15, 2023
- GBP/USD analysis for September 15, 2023 – Potential for the further downside movement September 15, 2023
- GBP/USD trading plan for European session on September 15, 2023. COT report and overview of yesterday’s trades. The pound September 15, 2023
- EUR/USD: trading plan for European session on September 15, 2023. COT report and overview of yesterday’s trades. Euro falls September 15, 2023
- Indicator analysis: Daily review of GBP/USD on September 15, 2023 September 15, 2023
- Technical Analysis – USDCAD extends pull back from 5-month peak September 15, 2023
- Indicator analysis: Daily review of EUR/USD on September 15, 2023 September 15, 2023
- Technical Analysis of ETH/USD for September 15, 2023 September 15, 2023
- Technical Analysis of BTC/USD for September 15, 2023 September 15, 2023
- Technical Analysis of GBP/USD for September 15, 2023 September 15, 2023
- Technical Analysis of EUR/USD for September 15, 2023 September 15, 2023
- Analysis and trading tips for USD/JPY on September 15 September 15, 2023
GBP/JPY is expected to trade with bullish bias above 142.60. The pair has pulled back on its key support at 142.60, representing the current 50-period moving average, which is still heading upward, and should act as a strong support role. The relative strength index is bullish above its neutrality level at 50. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Hence, as long as 144.25 holds as the key support, the pair is expected to rise toward 145.20 at first.
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 144.25 and the second one at 145.20. In the alternative scenario, short positions are recommended with the first target at 141.50 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 140.00. The pivot point lies at 142.60.
Resistance levels: 144.25, 145.20, 146.05
Support levels: 141.50, 140.00, 139.25
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: