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On the GBPJPY chart for today the price appears to move in upward trend as a blue dots appear below the bars and as the price still higher than the strong resistance of 179.59 which is also the weekly pivot point and it is likely for the price to keep going north unless it hit the weekly pivot resistance at 184.25 On the other hand if the price breaks the 179.59 support and also get a bearish signals by a red colored dots it is expected to keep going south till the 177.28 support as the next weekly pivot level.
http://bigimage.cz/photos/20010128980681677111167.gif .
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Daily Forecast
Pair: GBPJPY
Major Trend: Bullish
Time Frame: H4
Reason: 261.8 Fibo area not broken,. If broken, the price will go to the Fibo 423.6 (179.74)
Recommendation: Sell with a target of 261.8 (181.52) or if it continues broken then the price may continue to 179.74
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analysis for today 11 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPJPY on the date 11 / 14 / 2014
OPEN 181.91
HIGH 182.65
LOW 181.61
CLOSED 182.24
The third resistance (R3) 182.65 - ( 182.17 - 181.61 = 0.56 x 2 = 1.11 )= 183.76
The second Resistance (R2) 182.17 + 182.65 - 181.61 = 183.21
First resistance (R1) 182.17 x 2 = 364.33 - 181.61 = 182.72
pivot points 182.65 + 181.61 + 182.24 = 546.50 / 3 = 182.17
Support for the first (S1) 182.17 x 2 = 364.33 - 182.65 = 181.68
Support second (S2) 182.17 - ( 182.65 - 181.61 = 1.04 ) = 181.13
Third Support (S3) 181.61 - ( 182.65 - 182.17 = 0.48 x 2 = 0.97 )= 180.64
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There is a great chance for a bullish trend to be taking place today on the GBPJPY chart and that is according to the price which is currently located on upper level than the EMA 15 line.
According to the power momentum indicator a low power of the bullish trend is shown and also it can be used as a filter for the entering the buy positions.
For more confirmation we can use the power line indicator which is currently below the 50 level giving us a good downward direction signal as a result .
http://bigimage.cz/photos/image/
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pair- gbp/jpy
analysis time frame- m30
http://i59.tinypic.com/r9fipv.jpg
the price is falling down side with breaking the supporting trend line at 182.14 level. down side the daily support two at 181.09 hold and its try to move up. the rsi is also up side. long with profit target at 182.70 and stop loss at 180.50
good luck.
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As you can see on the GBPJPY chart in front of us the blue line’s position in the moment indicator is below the red line which means a good selling signal should be occurring.
also the red color shown in the oracle strength indicator means that a downwards direction signal is going to take place.
The oracle direction indicator could serve as a filtering tool with the red colors shown on the arrows meaning that a downward signal would be taking place in short term trades.
Summing all that up in my opinion I do think that the trend would be taking a downward direction but that can only happen if the moment sell cross was taking place on the chart And as long as the ATR indicator keeps showing selling signals then without doubt the sell trades would be a better choice for entry.
http://bigimage.cz/photos/20141117141621024643520.gif
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In GBP/JPY, the up pattern from 116.83 has quite recently continued. Maintained break of half retracement of 251.09 to 116.83 at 183.96 will make ready to 61.8% retracement at 199.80, which is near 200 mental level. On the drawback, break of 168.01 support is required to affirm medium term topping. Something else, viewpoint will stay bullish in the event of draw back.
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On the GBPJPY chart for today the price appears to move in upward trend as a blue dots appear below the bars and as the price still higher than the strong resistance of 180.6033 which is also the weekly pivot point and it is likely for the price to keep going north unless it hit the weekly pivot resistance at 184.1933 On the other hand if the price breaks the 180.6033 support and also get a bearish signals by a red colored dots it is expected to keep going south till the 179.0267 support as the next weekly pivot level.
http://bigimage.cz/photos/20141117141626367207579.gif .
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Daily Forecast
Pair: GBPJPY
Major Trend: NEUTRAL
Time Frame: H4
Reason: Prices have 2-way that can not be predicted. Price is important today is located at 38.2 Fibo 182.53. If the price broke through the area then continues to 183.19 and if the price can not penetrate, then prices tend to Fibo 100 (181.09)
Recommendation: No positions
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analysis for today 11 / 18 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPJPY on the date 11 / 17 / 2014
OPEN 182.70
HIGH 183.39
LOW 181.10
CLOSED 182.45
The third resistance (R3) 183.39 - ( 182.31 - 181.10 = 1.21 x 2 = 2.43 )= 185.82
The second Resistance (R2) 182.31 + 183.39 - 181.10 = 184.60
First resistance (R1) 182.31 x 2 = 364.63 - 181.10 = 183.53
pivot points 183.39 + 181.10 + 182.45 = 546.94 / 3 = 182.31
Support for the first (S1) 182.31 x 2 = 364.63 - 183.39 = 181.24
Support second (S2) 182.31 - ( 183.39 - 181.10 = 2.29 ) = 180.02
Third Support (S3) 181.10 - ( 183.39 - 182.31 = 1.08 x 2 = 2.15 )= 178.95
Spoiler: