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If you look at the daily chart a couple more moves in a bearish trend, and a few days ago, fought off a double vershinki at 125.70 and is now gaining steam in the bottom of the course, a potential target for approximately 119, but since a couple of not so much walking probably will have to wait ..
GBPJPY At this moment this pair is trading at Tools, looking at Average Exponential Indicator (ADX) we have a Neutral trend direction. If we look at Commodity Channel Index (CCI) it is at -133.642, giving us the advice that we should look for a Sell Situation. This in conjunction with the the Moving Average Convergence Divergence (MACD) at -0.0062, telling us that we should be in a Neutral trend. This data help us to make a decision on the direction of price for this pair.
GBP / JPY pair has returned today to rise but I expect that to fall back again because of the large cloud Como Span, which is an obstacle while the husband and the rise of today is the only re-test of the 61 regions of the broken Fibonacci
http://www5.0zz0.com/2012/07/09/17/666345798.png
This pair managed to break the daily pivot (123.33), will likely be down to the 122.63 level. But if the price had climbed above the pivot, then there is the potential to rise to the 123.74 level.
GBPJPY made it through the daily pivot (123.15), but the upward movement will be captured by LWMA100. So I think this pair would turn down towards the 122.77 level, with possible further to as low as 122.33
we can see on the H4 chart that we have a moving uptrend so i think thay GBPJPY will move upward on the short term and i suggest buying now with tp1@124.20 .
GBP / JPY pair rose today, but I expect to go back down again because of the large cloud Span Como facing the pair if closed today under the Fibonacci 61 I expect more downside in the coming days
http://www2.0zz0.com/2012/07/11/17/100083028.png
yeah , ham ko samondor me vasa kor dubaiga..........I think we are growing:yahoo:
There are several factors that can affect exchange rate of GBP/JPY pair, like interest rate variation between Bank of Japan and Bank of England.this currencies fluctuates more so some people likes to trade with this pair . But please try to go with the news . Find similarity in other currency pairs which can reflect in your trade.
GBP / JPY closed the week doji candle closed under the Fibonacci levels on the frame 61 daily closed candle last week and there is emerging the pair under the falling trend, as well as facing the cloud Como Span, I most likely pair to further decline
http://www3.0zz0.com/2012/07/15/14/601918321.png