empty
 
 
01.12.2015 06:03 PM
Daily analysis of GBP/JPY for December 01, 2015

This image is no longer relevant

Overview

Intraday bias in GBP/JPY is turned neutral for the moment. But the outlook is unchanged and stays cautiously bearish. Consolidation pattern from 180.36 has completed at 188.79. A deeper fall is expected for the test of the 180.36/64 support zone. In case of recovery, the outlook will stay cautiously bearish as long as 188.79 resistance holds. GBP/JPY was close to the key cluster resistance of 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to 200 psychological level. A break of 174.86 will confirm a trend reversal and bring a deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67. In case of another rise, we will be cautious about the strong resistance from 199.80/200.00 to bring the reversal finally.

Daily Pivots: (S1) 184.14; (P) 184.72; (R1) 185.20

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback