Investing.com - Financial Markets Worldwide

GPB/JPY, EUR/JPY: Pairs Remain On the Upside

ByActionForex
Published 02/04/2013, 04:58 AM
Updated 03/09/2019, 08:30 AM
EUR/JPY
-
GBP/JPY
-
P
-
P
-
GBP/JPY Daily Outlook

Daily Pivots: (S1) 144.85; (P) 145.67; (R1) 146.44;

Intraday bias in GBP/JPY remains on the upside for the moment and current rally should extend to 150 psychological level next. On the downside, below 144.29 minor support will turn bias neutral again and bring consolidations. But near term outlook stays bullish as long as 139.25 support holds and further rally is still expected.

In the bigger picture, medium term fall from 163.05 has completed at 116.83 already. It's a bit early to conclude reversal of the long term down trend from 251.09 (2007 high). But rise from 116.83 should at least be a move at the same degree as fall from 163.05. Thus, medium term rise is now expected back to 163.05. We'll stay bullish as long as 133.48 resistance turned support holds.
<span class=GBP/JPY H4" title="GBP/JPY H4" width="700" height="480">

<span class=GBP/JPY" title="GBP/JPY" width="700" height="480">
EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.98; (P) 125.97; (R1) 127.55;

Intraday bias in EUR/JPY remains on the upside for the moment. Current rally from 100.32 will extend to 130 psychological level next. On the downside below 124.83 minor support will turn bias neutral and bring consolidations. But break of 120.70 is needed to indicate short term topping. Or outlook will stay bullish in case of retreat.

In the bigger picture, whole down trend from 169.96 (2008 high) has completed at 94.11 already, on bullish convergence condition in weekly MACD. 123.31 (38.2% retracement of 169.96 to 94.11 at 123.08) is already met. Sustained trading above this level will target 61.8% retracement at 140.98. And, we'll stay bullish as long as 111.43 resistance turned support holds.

<span class=EUR/JPY H4" title="EUR/JPY H4" width="700" height="480">

<span class=EUR/JPY" title="EUR/JPY" width="700" height="480">

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.