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this is not able to break the upper side resistance at 147.70 and lower side support at 145.14. it is moving in this range. but now in the madc indicator is giving us short signal. now this time may be it will break the support and price will start to falling. we can short if price is close below the 145.00 and hold to the support at 143.00
http://www10.0zz0.com/2013/02/13/11/656824723.gif
hi
how are you
we can see in the 4h chart
the pair can not close up the broken down trend line
I see the pair will go to down way to 144.03
stochastic refer that the pair will go down
so our target sell from 145.53 and our target will 150pips
Good luck
There is no signal for entry now because gbp/jpy has been sideway for a long time . If you wanna enter this pair , i recommend you should make two pending order at the resistance level 147.21 or support level 145.07 . It is lower risk .
http://vangsaigon.com/iupload/images/gj132.bmp
elliott flat correction up 143.90
it should test 143.95 are after which a sell off down to 142.21 or extended to 141.43 area is
expected
techincal points
key point 143.47 - entry point 142.68 - elliot 141.90 - closing 143.00 - projection 143.35 - trend line 142.30
date- 14-2-2013
technical pivot point are-
resistance 3 - 147.71
resistance 2- 147.12
resistance 1- 146.09
pivot point- 145.50
support 1- 144.47
support 2- 143.88
support 3- 142.86
GBP/JPY is bearish.
Pivot: 145.9
Our preference: Short positions below 145.9 with targets @ 144.15 & 143.4 in extension.
Alternative scenario: Above 145.9 look for further upside with 146.65 & 147.3 as targets.
Comment: as long as 145.9 is resistance, look for choppy price action with a bearish bias.
http://dl.dropbox.com/u/51561036/scr...214-123811.png
gbp/jpy technical analysis by using : adx
adx : 28.6656
+di : 10.6014
-di : 17.0671
timeframe : 1 hour
date : 14.02.2013
sell gbp/jpy at the level 145.55, with targets at 144.50 and 143.95, but in case of breaking the level 145.85, then buy above this level with targets at 146.65 and 147.50
in the h4 time frame we can see that it is break the strong support at 146.00 and now try to hold at the second support at 144.50. if today this pair is break this support then it will falling continue and it will try to hit the next support at 142.50. we can hold our short position with stop loss 148.00