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Thread: Technical analysis of GBP/JPY By Instaforex

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    Default Technical analysis of GBP/JPY By Instaforex

    Fundamental overview:
    GBP/JPY is expected to consolidate with risks skewed higher after hitting a three-week high 136.70 on Thursday. It is supported by the positive investor risk sentiment and demand from Japan's importers. But the EUR/JPY gains are tempered by the Japanese exports and positions adjustment ahead of the weekend

    Trading recommendations:
    The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 182.30. A break of this target will move the pair further downward to 181.60. The pivot point stands at 183.60. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 182.30 and the second target at 181.60.
    Technical analysis of GBP/JPY By Instaforex-gbpjpym30-png

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    Fundamental overview:
    GBP/JPY is expected to trade in a lower range. It is undermined by the weak EUR/USD undertone, diminished investor risk appetite and Japan's exports. But the GBP/JPY losses are tempered by demand from the Japanese importers and positions adjustment ahead of the weekend.

    Trading recommendations:
    The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 183.35. A break of this target will move the pair further downward to 182.90. The pivot point stands at 184.50. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 185.05 and the second target at 185.70.
    Technical analysis of GBP/JPY By Instaforex-gbpjpym30-png

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    Trading recommendations:
    The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 182.050. A break of that target will move the pair further downwards to 182.10. The pivot point stands at 183.65. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 184.15 and the second target at 184.40.
    Technical analysis of GBP/JPY By Instaforex-gbpjpym30-png

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    Fundamental overview:
    GBP/JPY is expected to trade in a lower range. It is undermined by the diminished investor risk appetite, soft undertone EUR/USD, and Japan export sales. But GBP/JPY losses are tempered by the demand from Japan importers and position adjustment ahead of weekend. The sterling got hurt after Bank of England's chief economist Andrew Haldane said that the BOE "stands ready" to cut interest rates if needed to tackle low inflation.

    Trading recommendations:
    The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 180.80 and the second target at 181.80. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 177.10. A break of this target would push the pair further downwards, and one may expect the second target at 176.15. The pivot point is at 178.55.
    Technical analysis of GBP/JPY By Instaforex-gbpjpym30-png

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    Fundamental overview:
    GBP/JPY is expected to range-trade. It is undermined by the increased investor risk aversion and Japan's exports. The GBP/JPY downside is limited by the demand from the Japanese importers and improved euro sentiment after the upbeat data on Germany's Ifo business confidence

    Trading recommendations:
    The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 176. A break of that target will move the pair further downwards to 175.45. The pivot point stands at 177.55. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 178.30 and the second target at 179.30.
    Technical analysis of GBP/JPY By Instaforex-gbpjpym30-png

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    Fundamental overview:
    GBP/JPY is expected to trade in a higher range. It is trading with lower liquidity as the US financial floors are closed for the Easter holiday and market is waiting for Non Farm payroll data due to come out later today. It is undermined by diminished investor risk appetite, weaker GBP/USD undertone, and Japan exporter sales. But GBP/JPY losses are tempered by the demand from Japan importers and positions adjustment ahead of weekend.

    Trading recommendations:
    The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 177.75 and the second target at 178.25. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 176.85. A break of this target is likely to push the pair further downwards, and one may expect the second target at 176.45. The pivot point is at 177.15.
    Technical analysis of GBP/JPY By Instaforex-1428044519_gbpjpym30-png

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    Technical comment:
    The daily chart is still positive-biased as tha MACD and stochastics are bullish, although latter is at overbought levels, five- and 15-day moving averages are advancing.

    Trading recommendations:
    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. As long as the price holds above its pivot point, long positions are recommended with the first target at 189.20 and the second target at 189.75. In the alternative scenario, short positions are recommended with the first target at 186.65 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 186. The pivot point is at 187.3.
    Technical analysis of GBP/JPY By Instaforex-gbpjpym30-png

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analysis, eur, fundamental, gbp, instaforex, japan, japanese, level, pivot, technical analysis, time, trading, upside

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