GBPJPY Summary [2015.11.17] (Bullish)

[CAVEAT EMPTOR]
GBPJPY 


Outlook - Bullish

Still riding on the strength of the Gable, pair traded heavily around the previous DP (187.40/187.30) and reach our target 187.70/187.60 and met a slight resistance there. Still, we are looking forward for the pair to climb higher and hopefully break the 188.00/188.20 area and continue on to our long term target of 192.

Intraday areas to watch out for (Decision Points):
187.60/187.70 - this area can either turn to be a weak support if the pair tries to go down and becomes a resistance once the pair breaks going down and tries to test out the 187.40/187.20 area

187.20/187.40 - previous day DP (Decision Point) where the bulls and the bears tried to contest for control with the bulls winning (due to a strong Gable). The pair might try to retest this area and if breaks we might see a retest of the 187.00/186.80 area


Pivot Point
187.51


Resistance and Support
 R1      188.18
 R2      188.63
 R3      189.30
 R4      189.75
 S1      187.06
 S2      186.39
 S3      185.94
 S4      185.27

GBPJPY Summary [2015.11.16]

[CAVEAT EMPTOR]

GBPJPY

 Long term, the pair is looking to move further uphill looking at 188 then 192 and probably 195 (best scenario). Based from the trades from yesterday, we could look at the following key areas if the pair will range and test these key areas. (187.40/.30, 187.00/186.80, 186.40/186.20).

 For upside the pair would try to break the 187.40/187.30 area for it to reach my initial target of 187.60/187.70 area.

Intra-day it might try to retest the 187.00/186.80 area as that level gave the bulls a hard time to break and maintain last week.

 If the bears take over, another support area would be the range 186.40/186.20 as heavy contention between the bulls and the bears happened there yesterday before the pair went up :)

 Pivot Point 186.88

Support and Resistances

 R1   187.78

 R2   188.34

 R3   189.24

 R4   189.80

 S1    186.32

 S2    185.42

 S3    184.86

 S4    183.96