fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for GBP/JPY  Mon Mar 18, 2013 11:07 am | |
| Technical Analysis for GBP/JPY The GBPJPY pair has marked 145.85 a key resistance, after it was rejected last week from this level, and followed-up with a major bearish gap today. The pair has broken the short term ascending trend line that carried the recent rally as shown on image, in addition to breaking the 50-days SMA as well, although it's still an intraday break, where a daily closing below the average today may confirm further downside. Accordingly, our bias is to the downside this week. Support: 142.00, 141.40, 140.60, 140.20, 139.25 Resistance: 142.60, 143.15, 143.80, 144.40, 144.75 Recommendation Based on the charts and explanations above, we prefer to short the pair below 143.00 targeting 142.00, and 140.50. Stop loss above 144.00  | |
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