fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for GBP/JPY  Tue Mar 19, 2013 9:24 am | |
| Technical Analysis for GBP/JPY The GBPJPY pair failed to hold below the 50-days SMA and rebounded strongly to settle above 144.00 level again, and that invalidated the bearish setup we suggested yesterday, and hinted a continuation of the rebound towards a retest of 145.80 key resistance is the most likely scenario now. The short term bullish trend is still intact, while RSI maintains the bullish bias, accordingly, we expect an intraday bullish move today. Support: 144.00, 143.00, 142.35, 142.00, 141.40 Resistance: 144.40, 144.75, 145.10, 145.85, 146.55 Recommendation Based on the charts and explanations above, we prefer to long the pair above 143.75 targeting 144.50 ,145.00 and 145.80. Stop loss below 143.00  | |
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