GBPJPY Summary [2015.11.23]

[Caveat Emptor]
GBPJPY

The pair continued down and is currently just a bit below the 61.8 Fib in the 4 hour chart of the low (2015.11.06 12:00 [GMT+2]) and high of (2015.11.19 00:00 [GMT+2]).  Seems, the pair is currently consolidating at the 185.80/185.60 area (current DP. If the pair breaks the current DP, will look at a small short to target the next DP or at most the 100 fib. Looks like the bears are currently a bit in control for the moment until the next major news would push it down further or give the bulls a chance to take over.


Current Areas To Consider (Decision Points [DP]):
188.10/188.30
187.60/187.80
187.30/187.40
186.60/186.80 
186.20/186.30
185.60/185.80
185.00/185.20
184.50/184.70
184.00/184.20


For Bulls :The Pair is currently consolidating just below the 61.8 fib of the 4 hour chart of the low (2015.11.06 12:00 [GMT+2]) and high of (2015.11.19 00:00 [GMT+2]).  For the bulls to start taking over we'd like to see it break the 186.30/186.20 area and set an initial target of the 186.60/186.80 area (DP) and break that area before it can climb up further.

For Bears :
The pair closed slightly below the 61.8 fib and is currently consolidating there. We are looking for a break below the 185.80/185.60 area to target the 185.20/185.00 area. A further break of this and we'd look at the next DP. (see Current Areas to Consider for DPs)

Daily Pivot
186.11

Daily Support and Resistance
 R1       186.58
 R2       187.44
 R3       187.91
 R4      188.77
 S1      185.25
 S2       184.78
 S3       183.92
 S4       183.45