buy gbp/jpy at the level 143.75 with targets at 144.90 and 145.50, but in case of breaking the level 143.30, then sell at this level with targets at 142.72 and 141.81
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buy gbp/jpy at the level 143.75 with targets at 144.90 and 145.50, but in case of breaking the level 143.30, then sell at this level with targets at 142.72 and 141.81
GBP/JPY is still bounded in range of 139.25/144.80 and intraday bias remains neutral. With 139.25 support intact, outlook stays bullish and further rally is still expected. In any case, we'd expect any retreat to be contained by 139.39 support and bring rise resumption eventually. Above 144.80 will target 150 psychological level next. Though, break of 139.29 will bring deeper pull back, probably to 55 days EMA (now at 137.80) before staging another rally.
In the bigger picture, medium term fall from 163.05 has completed at 116.83 already. It's a bit early to conclude reversal of the long term down trend from 251.09 (2007 high). But rise from 116.83 should at least be a move at the same degree as fall from 163.05. Thus, medium term rise is now expected back to 163.05. We'll stay bullish as long as 133.48 resistance turned support holds.
The position of the current price is above the 50 EMA on the hourly chart, momentum is bullish
The position of the current MACD cross the line above the area 0, the momentum is bullish
Trend today: bullish
Target today:144.18
On the heels of massive Yen rally in summer 2007, later named by main stream press the "unwind of the carry trade",we published an article about anticipated direction of GBP-JPY. For details please see previous writing "Trading Forex- GBP-JPY outlook". The future outlined there have come to fruition and it's ..
http://i.imgur.com/aFTkJtl.jpg
According to the 1H chart. Gbp/Jpy price is above the kinjun-sen line and senko-span A is below the price therefore kumo cloud is very supportive . Therefore we can expect upward movement.Next target would be 1.4600 area.
The pair breaks above 144.24 and make a strong rally making a higher high at 145.60. its clear that bull are still there, and now way to go short. any retracement to the breakeven is suitable to go long with the major trend.
GBPJPY rise, but it seems has overbought condition. So this is the chance, if the price move up and break 146.07, it is possible to continue rise towards 146.78 or higher. In conversely, if the pair move down and break 144.72, it will likely to continue down towards 144.01 or lower.
Analysis result GBP JPY 01 FEBRUARY 2013
UP TREND (STRONG)
Signal 20 pips : BUY @ 144.73 Set S/L @ 144.43Set TP @ 144.93
Signal Breakout : BUY @ 144.93 Set S/L @ 144.63 Set TP @ 145.13
Reversal Prediction HIGH : 146.09
Spoiler:
The position of the current price is above the 50 EMA on the daily chart, momentum is bullish
The position of the current MACD cross the line above the area 0, the momentum is bullish
Trend today: bullish
Target today:150.62
Personally, while I climbed into sales on gbp / jpy, because the couple went on a release from the top of the long-term channel, and in the last few days of the course a decent price increased, the Bulls began to take profits on the hourly chart MASD showed a sell signal was also formed a reversal candlestick patterns, the goal until about 144.00 figure (strong support).