Increase the pound led to the pair broke the resistance level of 128.00 and drew a new high .. now is rolled back and think how to lead the price at 128.00 determine where to go next couple ...
Thread: Gbp/Jpy
Increase the pound led to the pair broke the resistance level of 128.00 and drew a new high .. now is rolled back and think how to lead the price at 128.00 determine where to go next couple ...
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The trading range for today is among the major support at 125.70 and the major resistance at 129.05.
The short-term trend is to the downside as far as 112.00 remains intact targeting 150.00.
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The bulls look still play here. And for intraday trade this bulls can become more nice up and good to be search for Buy OP here if truly the bulls candle here (then) can break up more to that resistance 129.61. If that happen better to search for buy. On other hand just wait and see as long as the price still move bellow that 129.61.
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Prices are testing above resistance at 128.57, the 38.2% Fibonacci expansion, to aim for the 50% level at 129.47. This barrier is reinforced by the top of a rising channel set from the June 1 low (130.05). Alternatively, a reversal back below 128.57 targets minor channel resistance-turned-support at 126.53.
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If I see on the chart, I think the up trend still strong now. GBPJPY still has a potential to continue the up trend today. If GBPJPY can break the resistance level at 129.69 successfully, I expect this pair will go up and try to touch or hit the next resistance level at around 130.53.
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Upward movement of GBP/JPY hold by weekly ressistance 2 level (129.53). Since asian market opened ago price move down and go to daily pivot level (128.94). If price continue down, it predict touch this pivot level.
Gbp/jpy technical analysis for 26.10.2012 by using : Auto pivot indicator.
resistance 3:131.81
resistance 2:130.73
resistance 1:130.08
pivot point :129.00
support 1:128.35
support 2:127.27
support 3:126.62
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The British Pound was lower against the Japanese Yen on Friday.
GBP/JPY was trading at 129.27, down 0.13% at time of writing.
The pair was likely to find support at 126.75, Mondays low, and resistance at 129.65, Thursdays high.
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GBP/JPY rose to as high as 129.43 so far in early US session and the break of 128.82 resistance confirmed resumption of whole rebound from 118.82. Bias remains on the upside and GBP/JPY should now target 100% projection of 120.82 to 128.82 from 124.72 at 132.72. On the downside, break of 127.09 minor support is needed to indicate short term topping. Otherwise, we'll stay bullish even in case of retreat
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gbp/jpy technical analysis by using : average directional movement index
adx : 58.2917
+di : 21.6658
-di : 13.8784
timeframe : 1 hour
time : 1900
date : 25.10.2012
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