fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for GBP/JPY  Thu Jan 23, 2014 1:35 pm | |
|  Technical Analysis for GBP/JPY The pair settled trades yesterday above 173.00 gaining positive momentum to resume the intraday and short-term upside move, where trading is currently structured within the minor ascending channel shown on graph. The MA 50 & 100 support the upside move yet momentum indicators might force the pair slightly lower before resuming the upside move, targeting 174.80 and require stability above 171.90. Support: 172.35, 171.90, 171.60, 170.95, 170.35 Resistance: 173.00, 173.85, 174.80, 175.65, 176.00 Recommendation Based on the above, buy the pair above 171.90 targeting 173.00, 173.85 and stop-loss below 170.95 | |
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