Analysis result GBP JPY 21-01-2013
SIDEWAYS, DOWN TREND ( WEAK )
Signal 20 pips : SELL @ 142.92 Set S/L @ 143.22 Set TP @ 142.72
Reversal Prediction LOW : 141.71
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Analysis result GBP JPY 21-01-2013
SIDEWAYS, DOWN TREND ( WEAK )
Signal 20 pips : SELL @ 142.92 Set S/L @ 143.22 Set TP @ 142.72
Reversal Prediction LOW : 141.71
sell gbp/jpy at the level 142.27 with targets at 141.11 and 140.58, buy in case of breaking the level 142.74, then buy at this level with targets at 143.52 and 144.37
gbp/jpy technical analysis by using : adx
adx : 37.0505
+di : 5.7209
-di : 14.1772
timeframe : 1 hour
date : 21.01.2013
long positions at 142.10 with 142.50 and 142.80 as next targets
the breakout of 141.80 will call for arebound towards 141.40
http://i49.tinypic.com/34e517t.gif
The pair comes downside last week but we remain bullish as long as the pair is trading above the 140.45 support levels only breaks below this levels threatens our bullish scenario this week. According to my chart analysis I prefer to buying the pair around 142.15 with targets 143.20, 144.25 then 144.65 and stoploss with four hour candle closing below 140.45.
Deeper fall might be seen but downside of the consolidation should be contained by 139.39 support and bring rise resumption eventually. Above 145.39 will target 150 psychological level. Though, break of 139.39 will bring deeper pull back.
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after successfully penetrate below the 142.45 level as bearish confirmation level, the pair are flat with very narrow movement for a few hours, that pair in a bearish consolidation to determine whether it will be continued when the pair managed to penetrate below the 141.40 level or reverse direction when the level is very strong to be penetrated
GBPJPY try to break the support level 141.31, if it successfully break the level, the pair may continue down towards 140.85, but if it fails to break the level, the pair may bounce up towards 142.16 and may continue to 142.62