Gbp/Jpy

trend formed :
current price @ -xxx-. hhmm.. gj. pairs that i feared. already drawn up a number of candles. i only followed the trend in h4. till the higher limit that will be in high sma5 d1.

position for order :
position 1 == instan purchase position
position 2 == purchase limit @ 128. 90

cash management ( mm ) :
use multilevel lot. ... lot position 3 lot position 2 lot position 1.
stop loss and target propit up to you personally, however i prefer out to cut loss and cut profits.

note :
continuously slide the purchase / sell limit follow the movement of sma or ema.
and bear in mind, continuously disciplined and follow the rules.

image link :
http ://i1123. photobucket. com/albums/... 0116-41-46. png

GBPJPY continues to move in the short-term horizontal range between 131.56 and 132.81. A key support is at 130.46. A strong resistance is at 133.49. Overbought condition overall strong resistance at 133.49 and support phase of weakness in the coming days.

GBPJPY moves sideways, lwma cross is still bullish, the pair may rise until 132.63, after that, the pair is possible to go down towards 131.83

Support: 131.36
Pivot: 132.17
Resistance: 132.97

trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel hold
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands hold

Technical Analysis For GBPJPY 60% Buy

Intraday bias in GBP/JPY remains neutral for the moment and some consolidations would be seen below 132.93. Further rally would remain in favor as long as 130.45 minor support holds. But we'd be aware of strong resistance from 133.48 to limit upside and bring reversal. Meanwhile, break of 130.45 will indicate that a short term top is at least formed and would bring decline back towards 125.67 support.

In the bigger picture, at this point, we'd like to maintain that price actions from 116.83 (2011 low) are corrective in nature so far. Rise from 118.82 could be the third leg of the pattern from 116.83 and might target 133.48 and above. After all, the likely scenario is that we'll see more range trading between 116.83 and 140.02 (50% retracement of 163.05 to 116.83 at 139.94) ahead, before an eventual downside breakout. We'll favor this view as long as 140.02 resistance holds.

Since our last analysis the GBP/JPY pair was trading in an upward move, impulsive 5 wave Yesterday, during the Asian session we could observe descending movement toward the 131.66 level. Therefore, during the European and New York sessions the GBP/JPY pair did not manage to hold this level and the price retraced back till 132.50 level. At the moment this exotic currency is trading around 132.42 level and we are expecting to see the price higher today. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 136.48 (100% of wave 1). To reduce the risk, we can use invalidation at 131.56 level as stop loss.

Support and Resistance

(S3) 131.36 (S2) 131.67 (S1) 131.86 (PP) 132.17 (R1) 132.48 (R2) 132.67 (R3) 132.98

Support: 132.03
Pivot: 132.78
Resistance: 133.53

trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel buy
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands hold

Technical Analysis For GBPJPY 80% Buy

The break of 132.93 indicates that GBP/JPY's recent rally has resumed. Intraday bias is back on the upside for 133.48 resistance. We'd be cautious on topping signal after hitting this resistance. But break of 131.66 minor support is needed to signal short term topping first. Meanwhile, sustained trading above 133.48 will target 140.02 key resistance.

In the bigger picture, at this point, we'd like to maintain that price actions from 116.83 (2011 low) are corrective in nature so far. Rise from 118.82 could be the third leg of the pattern from 116.83 and might target 133.48 and above. After all, the likely scenario is that we'll see more range trading between 116.83 and 140.02 (50% retracement of 163.05 to 116.83 at 139.94) ahead, before an eventual downside breakout. We'll favor this view as long as 140.02 resistance holds.

GBPJPY approaching resistance at 133.48. A breakthrough on it will target extensions at 135.63 and 136.95. Short term support is at 131.45, break down this level would target rising channel support at 130.79.

Support: 132.19
Pivot: 133.96
Resistance: 135.73

trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel buy
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands buy

Technical Analysis For GBPJPY 100% Buy