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For GBPJPY this look to up bulls and yes. this will be more to nice bulls again I see if then buyer on this pair was can move up to that pivot 140.39. So, I see. make search for Buy OP is better but make sure first that pivot 140.39 was be break by strong buyer then.
http://i45.tinypic.com/3167xua.gif
After the slight stability below the 140.00 level yesterday, the pair returned once again to trade above the 140.00 level. The MACD shows the negative signal while at the same time RSI is trading slightly with upside bias. so at this moment , we should require some more confirmation while the pair is stable below or above the this psychological level 140.00. Therefore at this point we remain neutral and waiting for confirm signal for the upcoming big move.
Couple filed several signals to the South decrease by 4 hour chart a course to break through and become stronger below the moving alligator, also broke a couple of the lower zone of the fractal 140.40, on the daily chart also started working out stochastics sell signal, now on its short-term correctional wave pair again met the seller about 140.70-here and formed my entry point to sell.
http://www12.0zz0.com/2013/01/09/20/988874026.gif
as we can see in chart h1
the pair broke the down trend to up way
the pair will go to resistance 1 to up way
so buy and our target will 141.02
Time frame- H4
we can see that price is moving in a down channel. now it is upper side of the channel. it this channle is break at 141.32 then it will move to next resistance level at 142.00
Today(10-1-13 ) pivot point are-
Resistance 3- 142.95
Resistance 2- 141.94
Resistance 1- 141.32
Pivot point- 140.31
Support 1- 139.69
Support 2- 138.68
Support 3- 138.06
http://i48.tinypic.com/2zz6su9.gif
The pair is trading above the EMA 20 and EMA 50 and stable above it. If the pair breaks the main resistance at 141.60 than there is strong move for upside. The RSI and MACD trade neutral and also due to higher risk reward ratio we stay away from this pair and waiting for better entry point.
GBP/JPY is expected to fall down. All JPY pairs are overbought. The down trend begins. This huge uptrend what was in the last few weeks had bullish nature, but this is a bearish market, and will bearish further. The GBP/JPY is expected to fall down to 131.46 in the next few weeks. And the price movement will probably sharply fall down.
I think that the uptrend is still here in this forex pair, it attempted to breast the 139.30 support to no avail. 142.70 region is the next target for this pair.Quote:
Originally Posted by mouheb
Today(11-1-13 ) pivot point are-
Resistance 3- 147.09
Resistance 2- 145.26
Resistance 1- 144.34
Pivot point- 142.51
Support 1- 141.59
Support 2- 139.76
Support 3- 138.84
http://i46.tinypic.com/34igyzl.gif
The pair successfully breaks the 142.85 levels. If the pair is stable above 142.85 levels which indicates that the pair has more potential to move upside and headed towards 146.35 levels. According to my chart analysis, I prefer to buying the pair above 143.50 with targets 144.00, 144.80 then 145.50 and stoploss with four hour candle closing below 142.80.