fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for GBP/JPY Thu Sep 05, 2013 10:44 am | |
| Technical Analysis for GBP/JPY The GBP/JPY pair maintains sideways bias headed toward the main expected target at 156.75. Trading is controled within the bullish channel, seen on the graph above, as the Moving Average 50 supports the price from the downside. In reponse, we continue to favor positive trades that are valid as long as the price remains above 154.60. Support: 155.45, 155.00, 154.60, 153.90, 153.00 Resistance: 156.00, 156.70, 157.00, 157.40, 158.00 Recommendation Based on the analysis above, we recommend buying the pair above 154.60, targeting 155.45 and 156.75 and stop-loss with 4-hour closing below 153.90. | |
|