GBPJPY [2015.12.04] and [11.30 - 12.04] Summary

[Caveat Emptor]
GBPJPY

Thursday's EURO news pushed the pound pairs up and the lackluster effect of the USD's NFP (positive NFP values), shows that a lot of traders and investors are looking forward if the Fed would be increasing rates or not. Currently, the pair is playing between the 186.10/186.25 and the 185.40/185.60 DP. We might see the pair testing both DPs and move either up/down depending on which DP it might break. IMHO, the pair is looking to be a bit bullish for now.

For Bulls:
Break of the current DP (186.10/186.25) and we target 186.60/186.80  DP further upside would mean bulls are riding the momentum from the last week's news and we might see 188 area again.

For Bears:
Currently, the pair is consolidating in the 186.10/186.25 DP. The pair might meet a slightly heavy resistance at the 185.40/185.60 area (due to last Friday's DP). Breaking this area would mean that the bears are ready to take control and we could target the next DP  185.10/185.30 area.


Current Areas To Consider (Decision Points [DP]):
188.10/188.30
187.60/187.80
187.30/187.40
186.60/186.80
186.10/186.25
185.40/185.60
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70

 GBPJPY [2015.12.04] Profile
Daily Pivot

185.76

Daily Support and Resistance
 R1      186.42
 R2      186.88
 R3      187.54
 R4      188.00
 S1      185.30
 S2      184.64
 S3      184.18
 S4      183.52

GBPJPY [11/30 - 12/04] Profile
Weekly Pivot (2015.11.30 - 2015.12.04)

185.38

Daily Support and Resistance
 R1       186.80
 R2       187.66
 R3       189.08
 R4       189.94
 S1       184.52
 S2       183.10
 S3       182.24
 S4       180.82

GBPJPY [2015.12.02] Summary

[Caveat Emptor]
GBPJPY

With the lackluster news from yesterday, bears took control of the pair. Currently we are looking at a daily resistance and a current DP level that the pair is trading. We'll watch out for the news today for further trend range. Depending on the news result today, we could be seeing the pair target the 2nd DPs for either long or short.


For Bulls:
Break of the current DP (184.10/184.30) and we would look at an initial target of 184.60/184.75 and if the result of the news today favors the bulls we would see it retest an target 185.10/185.30 DP.


For Bears:
A break of the 184.10/184.30 area would give us a target of the next DP (183.50/183.70). If the news favors the bears we could look at the pair targeting 182.40/182.60 DP next.


NEWS:

Dec 3
GBP        Services PMI

Current Areas To Consider (Decision Points [DP]):
186.60/186.80
186.20/186.30
185.60/185.80
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60
181.50/181.70

Daily Pivot

184.63

Daily Support and Resistance
 R1      185.31
 R2      186.30
 R3      186.98
 R4      187.97
 S1      183.64
 S2      182.96
 S3      181.97
 S4      181.29

GBPJPY [2015.11.30] Summary

[Caveat Emptor]
GBPJPY

Seems, the pair has current broken the current down trend from last week. Currently, the pair has crossed above the 60- Simple Moving Average (1 hour chart) [pair is still below the 200 SMA] and  is currently above the ichimoku cloud of the 1 hour chart to confirm bullish trend in the 1 hour chart. However, we should be watch out for a slight correction since the pair is nearing the overbought levels in RSI(10).

Beyond that we should be wary on the swings of the pair since there are some major news on the pair today.






For Bulls:
The pair tested the DP 185.60/185.80 and was rejected. We'd see today if it will test this DP again and be able to break it. Once broken we'd look for our next DP for our initial TP. But for longer term I'm looking to target 189 at the moment.


For Bears:
A break of the 185.10/185.30 area would give us a target of the next DP (184.60/184.75). If it breaks the second DP the pair might meet a bit of resistance at the 184.10/184.30 area since the pair got rejected twice in that area last Friday (1 hour chart).

NEWS:

Dec 1
GBP        Bank Stress Test Results
GBP        BOE Financial Stability Report
GBP        BOE Gov Carney Speaks
GBP        Manufacturing PMI

Current Areas To Consider (Decision Points [DP]):
186.60/186.80
186.20/186.30
185.60/185.80
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60


Daily Pivot

185.10

Daily Support and Resistance
 R1      185.10
 R2      185.74
 R3      186.17
 R4      186.81
 S1      184.03
 S2      183.60
 S3      182.96
 S4      182.53

GBPJPY [2015.11.27] with Weekly Pivot Computed

[Caveat Emptor]
GBPJPY

Even with a neutral news on the Second Estimate GDP q/q and positive news in the Prelim Business Investment q/q on the British pound the pair continued to go downward. Here we can observe that on the past few days the pair tried to break the nearest DP upward and got rejected from there and continued to break the nearest downward DP. The recent broken DP downward has now became a new intraday resistance  for the pair (See and Review 2015.11.25 and 2015.11.26 DPs and charts [1 hour]). We'd observe the pair again  during Monday's session if this current downward trend continues. There are a lot of news for the week for the British Pound and only a single news for the Japanese Yen. We'll see if the news would now push back the pair to be bullish or give more leverage to the bears.

NEWS:

Nov 30
JPY        Retail Sales y/y
GBP        Net Lending to Individuals m/m

Dec 1
GBP        Bank Stress Test Results
GBP        BOE Financial Stability Report
GBP        BOE Gov Carney Speaks
GBP        Manufacturing PMI

Dec 2
GBP        Halifax HPI m/m (Tentative)
GBP        Construction PMI

Dec 3GBP        Services PMI

Current Areas To Consider (Decision Points [DP]):
186.60/186.80
186.20/186.30
185.60/185.80
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60


Daily Pivot

184.67

Daily Support and Resistance
 R1      185.10
 R2      185.74
 R3      186.17
 R4      186.81
 S1      184.03
 S2      183.60
 S3      182.96
 S4      182.53

Weekly Pivot

185.22

Weekly Support and Resistance
 R1      186.21
 R2      187.95
 R3      188.94
 R4      190.68
 S1      183.48
 S2      182.49
 S3      180.75
 S4      179.76

GBPJPY Summary [2015.11.26]

[Caveat Emptor]
GBPJPY

The pair continued with it's second rejection from the 185.80/185.60 DP but bounced up again from the 184.60/184.75 DP. With the lack of major news and with the US market closed for the holiday the pair didn't move much and only traded between the two DPs throughout the day. Currently, the market didn't react that much from the mixed news from Japan, negative Household Spending y/y and positive Tokyo Core CPI y/y . We'll see how the market will react later once the London Market opens and also after the news release on the British Pound. Currently, an area we'd observe best is the area around the 185.10/185.30 range since most of the trades happened around this area and seems the area has been an area of contention between the bulls and bears for the day

Current Areas To Consider (Decision Points [DP]):
187.30/187.40
186.60/186.80
186.20/186.30
185.60/185.80
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70

For Bulls :
A decisive break of both DPs 185.10/185.30 and 185.80/185.60 would give us a much more decisive signal that the bulls have come again to take over and we'd look for further entries. For smaller targets if the DP 185.10/185.30 is broken one could initially target the DP 185.80/185.60  (also our daily R1 ).

For Bears :
Another rejection from the DPs 185.10/185.30 and 185.80/185.60 we'd look again to target the 184.60/184.75 DP as target. For further downside move the 184.60/184.75 DP  needs to be breached first then we'd look at 181.10/184.30 DP and a break of the the 183.50/183.70 DP then we'd tlook further for a much lower target.

Daily Pivot
185.12

Daily Support and Resistance
 R1 185.60
 R2 186.15
 R3 186.63
 R4 187.18
 S1 184.57
 S2 184.09
 S3 183.54
 S4 183.06