Thread: Gbp/Jpy
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I expect an uprise in this pair whenever the consolidation ends. This pair has moved a lot this week, it is as a reult of news about handing over that is coming from the japanese country in the case of their prime minister
Patience is Key.
in the h4 time frame the price 147.40 is offering a strong resistance this resistance is not breaking in last days. but again cci and stoch indicator is moving in the over bought area. but we can short this pair with breaking support at 146.20 and target it 145.10
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Spoiler:
The position of the current price is above 50 EMA on the Daily chart, momentum is bullish
The position of the MACD cross the line above area 0, the momentum is bullish
Trend today: Bullish
Target today:150.15
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Gbp/jpy analysis by using : moving averages.
date : 02.06.2013
time frame : 15 min
ema5 :146.86 signal- buy.
ema10:146.85 signal-neutral.
ema20:146.77 signal-buy.
time : 03:45 GMT
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GBPJPY At this moment this pair is trading at 146. 24/26 (0.45%), looking at Average Exponential Indicator (ADX) we have a Neutral trend direction. If we look at Commodity Channel Index (CCI) it is at -14, giving us the advice that we should look for a Buy Situation. This in conjunction with the the Moving Average Convergence Divergence (MACD) at 0.0485, 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.
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The pair was the formation of very strong southern ryadya sell signals, the pair is near the upper boundary of the long-term channel is also noticeable formation and triple vershinki + to form a binary MASD bearish divergence followed by a signal to sell, the first target to mid-channel.
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in the h4 chart we can see that price level 146.32 is a good resistance but now it is breaked. in the stoch and cci indicator - they also move again buy side and giving us buy signal. we will wait to break the resistance at 147.13 if this level is break then it will go more up and may be reach to 148.00 level
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.
GBP/JPY's rises to as high as 146.45 so far today on broad based weakness in yen. The strong break of 144.80 confirmed resumption of recent rally from 118.82 and intraday bias is back on the upside for 150 psychological level next. On the downside, below 144.29 minor support will turn bias neutral again and bring consolidations. But near term outlook stays bullish as long as 139.25 support holds and further rally is still expected.
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.
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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