fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for GBP/JPY Mon Jan 20, 2014 2:18 pm | |
| Technical Analysis for GBP/JPY The pair maintained stability above the descending channel resistance shown on graph, keeping the bearish move valid over intraday basis, waiting for the breach of 170.00 to open way toward downside targets initially at 168.85 then 166.00. Stochastic supports the expected downside move that remains valid as far as 171.10 holds. Support: 170.00, 169.50, 168.85, 168.30, 167.45 Resistance: 171.10, 171.80, 172.30, 173.10, 173.85 Recommendation Based on the above, sell the pair below 171.10 targeting 170.00 then 168.85 and stop-loss above 171.95 | |
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