Gbp/Jpy

[d3d3]

Proceeding from today's H4 chart, the pair is trading between Support level 122.70 and Resistance level 123.20. Presently the pair is testing the Support level 122.70 and trying to break it through to continue its bearish move. Given that the pair manages to break this Support level and closes 4H below, we will receive a strong indicator for more bearish signals which enable the Support level 122.00 as a level target. Then we should wait for breaking this Support level to continue the downward move and open the way towards the Support level 121.55.
On the other hand, if the pair fails to break the Support level 122.70 and bounces from it, the pair may reverse its bearish move taking an upward move enabling the Resistance level 123.20. Then we should wait for breaking this Resistance level to provide new bullish signals. In case the pair is able to break the Resistance level and close 4H above, we will get a bullish strength providing new buy signals enabling the Resistance level 123.50 as a level target. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level 122.70 is unbroken, the upward move is still expected invalidating the bearish outlook.


Resistance and Support Levels

R3(124.25)
R2(123.50)
R1(123.20)

S1(122.70)
S2(122.00)
S3(121.55)


Trading Recommendations

According to previous analysis, we recommend selling after breaking the Support level 122.70 and closing 4H below with TP 122.10; SL closing 4 hours above the Support level will be appropriate.

Published: 2012-07-31 09:20:23 UTC+00 2 hours, 21 min. ago

[neajctg01]

GBPJPY
two hours ago market was buy. in the time you buy your gbpjpy .............
bid ask spread
122.68 122.75 07

[copinedekatia]

the most likely scenario

the pair can move up to test the 1st resistance on 123.10

alternative scenario

the pair can move down to test the 1st support on 122.50

[ladyheart]

GBPJPY M15 - INTRADAY SIGNAL

TRADE BETWEEN THE SPACE IN THE TRIANGLE.
ONCE BREAKOUT, TRADE IN THE DIRECTION OF THE BREAKOUT.
CAREFUL FOR A FAKE BREAKOUT.

WAIT FOR CS CONFIRMATION.

[marwa]

The bulls can be play here for today movement, I see. Look - that on the previous candle clear was formed a nice two bulls candle So, yes, the more probably bulls trend continuation probably here for today move. So, this quite clear - that search for nice Next Buy OP here good idea for trader's.

[kimo]

Japanese pair cable is expected that this week in Lecco movements incidental to next Thursday

Points and this is a weekly task of buying and selling of

Sales target of 125.20 points, 120 points stop lose 60 points

Purchase of 122.30 points, the target stop lose 90 points 50 points

Important points of the Australian dollar deal on this week

Thank you

[feri_forex]

waw .. GPB this time trying to repair ... can the large candle will follow ....
candle is still so strong trend for side way ..
but yesterday repar pounsterling indicates the value of its currency will not always fall .....
history of how the story will continue.??
regards profit ..

[copinedekatia]

the most likely scenario

the pair can move up to test the 1st resistance on 123.70

alternative scenario

the pair can move down to test the 1st support on 123.00

[sobissa]

GBP / JPY closed week candle Hammer could not get out of the cloud Como SPAN This gives us the possibility of see more of the rise in the coming weeks

[expert]

Bulls continuation can probably play again here = if then price can break that strong golden ratio fibo (61.8 at price 123.51). So, if that 61.8 fib can be break by price from bottom = of course = search for nice Buy OP on smaller TF = good idea here, I see.