GBPJPY Summary With Computed Weekly Pivot [2015.11.20]

[Caveat Emptor]
GBPJPY
The pair continued on to retrace down with bears taking over due to the pound news on Public Sector Borrowing. Actual is 7.5B which is a lot more than the forecast 5.5B. Since, there is no major news between the pound and the yen until Wednesday, will be observing the pair if it breaks the  186.30/186.10  area for shorts or climb up above 186.60 area for long.

News To Watch Out For :
British Pound

Nov 25 (Wed)
Autumn Forecast Statement
Nov 27 (Friday)
Second Estimate GDP q/q
Prelim Business Investment q/q

Japanese Yen
Nov 25 (Wed)
Monetary Policy Meeting Minutes

Nov 27 (Friday)
Household Spending y/y

Tokyo Core CPI y/y

Current Areas To Consider (Observed Areas):
187.30 /187.40
186.60/186.80
186.10/186.30
185.60/185.80
185.00/185.20




For Bulls :
If the pair recovers and goes up, we'll see if the pair can break the 186.80/186.60 area (majority of the trades happened here last Friday) and climb up. If it breaks this area, we could target another previous DP (decision point) 187.40/187.30 area. Beyond that range we'll look next at 187.60/187.80.  

For Bears :
Currently the pair at the 50 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]). A further break of this area (186.30/186.10) would give us a signal to short the pair and target 61.8 fib (roughly the 185.80/185.60 area. A further break and we'll target 185.20/185.00 area.


Daily Pivot (2015.11.20)
187.02

Daily Support and Resistance (2015.11.20)
 R1      187.59
 R2      188.64
 R3      189.21
 R4      190.26
 S1      185.97
 S2      185.40
 S3      184.35
 S4      183.78
 
 Weekly Pivot (2015.11.16 - 2015.11.20)
187.10


Weekly Support and Resistance(2015.11.16 - 2015.11.20)
 R1      188.23
 R2      189.91
 R3      191.04
 R4      192.72
 S1      185.42
 S2      184.29
 S3      182.61
 S4      181.48
 
 

GBPJPY Summary [2015.11.19]

[Caveat Emptor]

GBPJPY

The pair went as high as 188.79 today and retraced back down to the 187.70 area. This retracement can be due to bulls closing out for some profit and also due to the news released (GBP - Retail Sales m/m) which was at -0.6% instead of the forecasted -0.4%, a lot lower than the previous month release 1.7%. Currently, the pair has found some support and consolidated in the 187.80/187.60 area. My personal outlook for this is still bullish with my week's target to be at 189.10/189.00 area(hoping it reaches this area). A close near and above 189.00 area and we might see 192.00 and 195.00 (hopefully)  in the next few weeks.

Areas To Take Note of :

188.30/188.10
187.80/187.60
187.40/187.30
187.00/186.80

For Bulls:

A break of the  188.30/188.10 area, would help push to the target 189.10/189.00 area as less resistance was seen from yesterday's high.

For Bears:

Currently, the pair has consolidated at around 187.80/187.60 a break of this area and it might try to test the support (187.40/187.30) which rejected the price as of 11/18/2015. A break of this and we'll see it try for 187.00/186.80 area and we'll look for further downside target.

Daily Pivot

186.88

Resistance and Support

 R1       187.78
 R2       188.34
 R3       189.24
 R4      189.80
 S1      186.32
 S2       185.42
 S3       184.86
 S4       183.96

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