Category Archives: GBP/JPY

GBP/JPY MACD Divergence At Monthly Support

Nenad Kerkez

The GBP/JPY has made a temporary bottom at 141.25 and we can see MACD divergence that could push the price to the upside.141.25-50 is the zone where price might spike towards the 142.60-85 where new sellers might be waiting. Only a clear 4h close or h1 momentum above 142.90 should target 143.40. Bearish continuation happens only below 140.90, but at this point, the GBP/JPY is supported by Monthly and Weekly supports and bullish MACD divergence. more…

Elliott Wave Analysis: GBPJPY and USDJPY

Grega Horvat

GBPJPY is making a five-wave bearish structure within blue wave c as part of a three-wave consolidation. We see current intra-day structure unfolding an overlapping movement, which can mean a potential ending diagonal within red wave v) of c can be in progress. If that is the case, then once current red wave v) fully unfolds a sharp and strong reversal to the upside can come in play. more…

GBP/JPY Inverted Triangle Upside Broken

Nenad Kerkez

Global equities rally that extended in Asia session weakened the Yen and it fell vs its main counterparts USD and GBP. Both USD/GBP/JPY are heavily connected to Equity markets and when Equities are going up both USD/JPY and GBP/JPY are going up too. The pair has formed an Inverted Triangle (ConTriangle) and subsequently broke its top so we might see a retest-continuation. more…

GBP/JPY More Downside Expected

Nenad Kerkez

When other pairs are moving in a low ATR, the GBP/JPY aka “The Dragon” simply doesn’t care about thin holiday liquidity. ATR of last seven days is 115 and that leaves traders with a more room to trade it. Technically we have 2 POC zones. The first POC zone 143.35-143.50 (38.2, bearish order block, ATR level) could reject the price should the pair retrace. Slightly above it is POC2 143.60-85 (H3,50.0, DPP, ATR projected top). Traders should pay attention to possible ejections from the zones towards 143.00 and 142.40. more…

Elliott Wave Analysis On SILVER And GBPJPY

Gregor Horvat

On the intraday chart of Silver, we think that market can be trading in final stages of a corrective set-back. We have seen a very big spike on Friday to 19.00 area from where market turned back to the lows. As it appears right now, we think that silver can be making an ending diagonal here in black wave 5, meaning that another and final push down to 18.20 area can be coming this week where we would pay attention to a bullish turn. more…

GBP/JPY The Dragon Is Flying High

Nenad Kerkez

The GBP/JPY aka “the Dragon” has a¬†strong correlation¬†with equities. Last night Japan, HK and Australian markets went up due to commodities prices up, abenomics in Japan, and follow through risk-on due to US Equities performing strongly overnight. Nikkei was probably the best performer as it has been up 1200pts in 3 days. more…

Markets React To Shock Brexit Outcome

Fawad Razaqzada

As it became clear that the outcome of the UK referendum was going to be an exit from the EU, the pound literally got pounded as it dropped from an overnight high of 1.50 to sub 1.33 when the news was confirmed, while the FTSE tanked nearly 10% at the open. Most people were undoubtedly wrong-footed given how confident some betting companies were in pricing in the odds for remain. Naturally, the markets have rebounded sharply off their lows as you would expect. Profit-taking and dip buyers have, for now, provided some relief. Traders who have not yet expressed their views are starting to come back into the markets as key levels are re-tested, so volumes and volatility should remain high for a while yet. Given what has happened, most speculators are likely to step in and fade the rallies rather than buy the dips. more…

Elliott Wave Analysis On GBPJPY And EURUSD

Gregor Horvat

US trading is about to begin in a few minutes. GBPJPY fell from our indicated levels since we recognized wave B flat pattern. Now we are already in the latest stages of the wave C to lower levels. We expect one more minor corrective pullback in wave C with resistance near 159.90 levels and afterwards a continuation to around 156.80-90 where support for wave C can be found and a possible turning point can occur. more…

GBP/JPY Nearing Important Reversal

Ville Vainio

June 15, 2015 @ 4:33 pm – GBP/JPY on a sideways price action so far today. I am looking for a little more upside before larger reversal can occur. 193.00 or little above that would be plausible target for this ending diagonal pattern to find its peak. This uptrend has been weakening for weeks and can end violently and swiftly. When this reversal takes place I am expecting a multi month bearish trend. more…