GBPJPY Bears Aiming at 120, Before Giving Up

Whether it is because of Brexit or not, GBPJPY has been trading below 160.00 ever since the referendum in June 2016. The pair has been locked in a wide range between 156 and 124 for four years now. Last week, it closed the session at 134.66, down from 138.84 at the open. In order to…

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GBPJPY: Bearish Reversal Expected Near 151.00

GBPJPY has been in recovery mode since it touched 139.90 on August 15th. On September 21st, the pair climbed to a multi-month high of 149.72, but fell to an intraday low of 146.51 yesterday. As of this writing, the Pound is hovering around 147.90 against the Japanese yen. The time is appropriate to apply the…

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GBPJPY Bears Remove a Major Hurdle

It has been less than 20 days since our last update on GBPJPY. On July 20th we shared our view that the pair is “looking into the hard Brexit abyss” and while the pair was trading around 146.20, we concluded that much lower levels should be expected. Of course, the bearish outlook was not based…

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GBPJPY Looking Into the Hard Brexit Abyss?

Our last update of GBPJPY came out on December 5th, 2017. It was focused on the long-term perspective and based on the daily chart of the pair, which did not look very encouraging for the bulls at the time to say the least. While the pair was trading above 151.10, the Elliott Wave Principle suggested…

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GBPJPY Unmoved by Brexit… For Now

GBPJPY climbed to its highest point in over a year yesterday, despite Brexit negotiations not going in the best possible way. The pair has been in recovery mode since October 2016, but its chart is looking quite heavy, not because we expect Brexit to eventually take its toll on Britain’s economy, which is also very…

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GBPJPY On Its Elliott Wave Way to 160?

Despite the fact that volatility drops significantly during the summer, obviously not everyone was on vacation, because on August 9th we received an on demand order to make an Elliott Wave analysis of GBPJPY. Back then, the pair was hovering around 142.50 and has been moving sideways between 148.50 and 135.60 for more than half…

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GBPJPY a Slave to an Elliott Wave Pattern

On December 15th GBPJPY climbed to 148.45 – the culmination of a rally, dating back to October 7th, when the pair fell to as low as 122.64. Unfortunately, just when it seemed that the bulls are holding the wheel, the bears somehow managed to prevail and drag the rate 600 pips lower – to 142.48 as…

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Riding GBPJPY’s Post-Election Rally

GBPJPY bulls must be very pleased with what November brought them. The pair has been steadily rising since the U.S. election, which caused a decline to 126.70. Nine days later, today GBPJPY climbed to as high as 137.57 and is currently hovering around 137.10. Could this impressive rally be predicted, especially after the strongly negative…

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Riding GBPJPY’s Long Term Roller Coaster

GBPJPY topped at 195.87 in June, 2015. During the last one year, the pair lost over 67 figures, falling to as low as 128.76 last week. Prior to this crash, there was a strong rally from 116.83. So, a 79-figure bullish run was followed by a 67-figure sell-off. Well, the FOREX market could really be…

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GBPJPY Ready to Break the Consolidation?

GBPJPY has been moving sideways between 151.65 and 164.10 for more than three months now, which has probably made trading this pair extremely difficult. Just when you thought you finally know where GBPJPY was going, it decides to change its direction again. The best way to trade in such a directionless environment is to not trade at all…

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GBPJPY Is Sending a Bullish Message

GBPJPY bottomed at 154.70 on February 24th and managed to recover to 164.10, when the bears returned. The pair is currently trading slightly above 160.10, but what could we expect from now on? Is this just a pull-back or the resumption of the larger downtrend? The Elliott Wave Principle might help us find the answer.…

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GBPJPY Looks Filled With Doubts

Just as many other crosses, GBPJPY tends to make large movements in short periods of time. This week was no exception. The pair rose to 175.00 on Monday, but than fell to 170.02 so far. The real question we have to ask is whether the latest weakness is the resumption of the larger downtrend, which…

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GBPJPY: How Confirmations Pay Off

On December 9th we published “GBPJPY: What Is Next After The Target?” to show you two equally probable scenarios, which contradict one another. In other words, we admitted we did not know what was going to happen in GBPJPY next. However, we knew the exact moment when one of the two counts would be confirmed…

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GBPJPY: What Is Next After The Target?

Two days ago, on December 7th, we published “GBPJPY: Two Counts, One Direction” to prepare you “for a 220+ pip slump in GBPJPY”. While the pair was trading near 186.10, the Elliott Wave Principle suggested it was weaker than it appeared to be. There were not one, but two bearish wave counts, so we had no…

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GBPJPY: Two Counts, One Direction

GBPJPY bulls got discouraged near 188.80 on November 19th. The sell-off, which followed, led the pair to 184.32 just five days later. Since then the exchange rate has been very difficult to trade, making higher highs and lower lows all the time. However, it seems the market is finally giving us a clue on the hourly chart…

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