fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for GBP/JPY  Thu Aug 15, 2013 10:34 am | |
|  Technical Analysis for GBP/JPY The GBP/JPY pair is biased to the downside, volatile around 151.50, while the Stochastic acquires a rather sound positive momentum. That supports the continuation of the uptrend over the intraday timeframe and is backed by the Moving Average 50. We now expect targets beginning at 153.75 but in order to confirm that target, the price must steady above 150.80. Support: 151.20, 150.80, 150.10, 149.50, 149.00 Resistance: 152.40, 152.90, 153.75, 154.25, 154.65 Recommendation Based on the analysis above, we recommend buying the pair above 151.20, targeting 152.40 and 153.75 and stop-loss with 4-hour closing below 150.40. | |
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