GBP/JPY – Currency exchange rate forecast 23.08.2019: look for a drop towards 129.66 before a bounce

GBP/JPY - Currency exchange rate forecast 23.08.2019: look for a drop towards 129.66 before a bounce

Our preference: look for a drop towards 129.66 before a bounce.

Our pivot point stands at 129.66.

Our preference: look for a drop towards 129.66 before a bounce.

Alternative scenario: the downside breakout of 129.66 would call for 129.08 and 128.74.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the pair is below its 20 MA (130.30) but above its 50 MA (130.23).

Supports and resistances:

132.00 **

131.66 *

131.31 **

130.97

130.27 last

129.88

129.66 **

129.08 *

128.74 **

GBP/JPY – Currency exchange rate forecast 22.08.2019: the RSI is overbought

GBP/JPY - Currency exchange rate forecast 22.08.2019: the RSI is overbought

Alternative scenario: below 129.76, expect 129.18 and 128.84.

Our pivot point is at 129.76.

Our preference: the upside prevails as long as 129.76 is support.

Alternative scenario: the downside breakout of 129.76 would call for 129.18 and 128.84.

Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 129.26 and 129.25). Finally, the GBP/JPY has crossed above its upper Bollinger band (130.09).

Supports and resistances:

132.42 **

132.08 *

131.73 **

131.39

130.40 last

129.99

129.76 **

129.18 *

128.84 **

GBP/JPY – Currency exchange rate forecast 21.08.2019: the downside prevails as long as 129.75 is resistance

GBP/JPY - Currency exchange rate forecast 21.08.2019: the downside prevails as long as 129.75 is resistance

The MACD is below its signal line and negative.

Our pivot point is at 129.75.

Our preference: the downside prevails as long as 129.75 is resistance.

Alternative scenario: the upside breakout of 129.75, would call for 130.32 and 130.66.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 129.29 and 129.28).

Supports and resistances:

130.66 **

130.32 *

129.75 **

129.52

129.25 last

128.53

128.19 **

127.85 *

127.51 **

GBP/JPY – Currency exchange rate forecast 20.08.2019 : the downside prevails as long as 128.89 is resistance

GBP/JPY - Currency exchange rate forecast 20.08.2019 : the downside prevails as long as 128.89 is resistance

Alternative scenario: the upside breakout of 128.89 would call for 129.46 and 129.80.

Our pivot point is at 128.89.

Our preference: the downside prevails as long as 128.89 is resistance.

Alternative scenario: the upside breakout of 128.89, would call for 129.46 and 129.80.

Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 128.89 and 129.12).

Supports and resistances:

129.80 **

129.46 *

128.89 **

128.67

128.44 last

127.69

127.35 **

127.01 *

126.67 **

GBP/JPY Currency exchange rate forecast 19.08.2019: the upside prevails as long as 128.79 is support

GBP/JPY Currency exchange rate forecast 19.08.2019: the upside prevails as long as 128.79 is support

Alternative scenario: the downside breakout of 128.79 would call for 128.22 and 127.88.

Our pivot point stands at 128.79.

Our preference: the upside prevails as long as 128.79 is support.

Alternative scenario: the downside breakout of 128.79 would call for 128.22 and 127.88.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 129.19 and 129.23).

Supports and resistances:

131.04 **

130.70 *

130.36 **

130.02

129.30 last

129.02

128.79 **

128.22 *

127.88 **

GBP/JPY Currency exchange rate forecast 16.08.2019: the upside prevails as long as 127.93 is support

GBP/JPY Currency exchange rate forecast 16.08.2019: the upside prevails as long as 127.93 is support

Alternative scenario: below 127.93, expect 127.36 and 127.02.

Our pivot point stands at 127.93.

Our preference: the upside prevails as long as 127.93 is support.

Alternative scenario: the downside breakout of 127.93 would call for 127.36 and 127.02.

Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 128.34 and 128.30).

Supports and resistances:

130.11 **

129.77 *

129.43 **

129.09

128.39 last

128.15

127.93 **

127.36 *

127.02 **

GBP/JPY Currency exchange rate forecast 15.08.2019: the upside prevails as long as 127.57 is support

GBP/JPY Currency exchange rate forecast 15.08.2019: the upside prevails as long as 127.57 is support

Alternative scenario: the downside breakout of 127.57 would call for 127.01 and 126.67.

Our pivot point stands at 127.57.

Our preference: the upside prevails as long as 127.57 is support.

Alternative scenario: the downside breakout of 127.57 would call for 127.01 and 126.67.

Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 127.92 and 127.85).

Supports and resistances:

129.85 **

129.52 *

129.18 **

128.84

128.11 last

127.80

127.57 **

127.01 *

126.67 **

GBP/JPY Currency exchange rate forecast 14.08.2019: the downside prevails as long as 128.41 is resistance

GBP/JPY Currency exchange rate forecast 14.08.2019: the downside prevails as long as 128.41 is resistance

The configuration is negative.

Our pivot point is at 128.41.

Our preference: the downside prevails as long as 128.41 is resistance.

Alternative scenario: the upside breakout of 128.41, would call for 128.97 and 129.31.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 128.27 and 128.38).

Supports and resistances:

129.31 **

128.97 *

128.41 **

128.18

127.89 last

127.13

126.80 **

126.46 *

126.12 **

GBP/JPY Currency exchange rate forecast 13.08.2019: the downside prevails as long as 127.48 is resistance

GBP/JPY Currency exchange rate forecast 13.08.2019: the downside prevails as long as 127.48 is resistance

Alternative scenario: above 127.48, look for 128.05 and 128.38.

Our pivot point is at 127.48.

Our preference: the downside prevails as long as 127.48 is resistance.

Alternative scenario: the upside breakout of 127.48, would call for 128.05 and 128.38.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 127.10 and 127.15).

Supports and resistances:

128.38 **

128.05 *

127.48 **

127.26

127.03 last

126.32

125.98 **

125.65 *

125.31 **

GBP/JPY Currency exchange rate forecast 13.08.2019: rebound towards 128.19

GBP/JPY Currency exchange rate forecast 13.08.2019: rebound towards 128.19

The MACD is negative and above its signal line.

Our pivot point stands at 126.62.

Our preference: rebound towards 128.19.

Alternative scenario: below 126.62, expect 126.06 and 125.73.

Comment: the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading above its 20 MA (127.07) but under its 50 MA (127.15).

Supports and resistances:

128.86 **

128.53 *

128.19 **

127.85

127.09 last

126.85

126.62 **

126.06 *

125.73 **