This pair still looks sideway between fibonacci 0.0 (144.68) and fibonacci 23.6 (145.12). But the price is under pivot 145.51, so it have more chance to testing support 144.49.
Thread: Gbp/Jpy
This pair still looks sideway between fibonacci 0.0 (144.68) and fibonacci 23.6 (145.12). But the price is under pivot 145.51, so it have more chance to testing support 144.49.
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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
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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
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gbp/jpy technical analysis by using : adx
adx : 28.6656
+di : 10.6014
-di : 17.0671
timeframe : 1 hour
date : 14.02.2013
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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.
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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
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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
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Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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 .
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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