Technical analytics

GBPJPY market technical outlook

GBPJPY

Daily chart:

The structure is completed with relatively short corrective bearish swing with two consecutive bullish pinbars at its tip. Thus there are big odds for development of new upswing, which will be breaking the closest high at 136.00.

In medium term the pair may grow by 300 bp to 139.70.

H1-chart:

Local structure has upward status and undergoes trending stage. Thus we can expect growth of the quotes from current levels in direction of the local high 136.10 and following round level 137.00.

Conclusions:

Growth to 136.10 and 137.00.

Trading recommendations:

Longs to 136.10 and 137.00.