fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for GBP/JPY  Fri Sep 06, 2013 9:40 am | |
|  Technical Analysis for GBP/JPY The GBP/JPY pair is trading with a slight downside bias after it approached the bullish channel's resistance, influenced by the negativity on Stochastic. Our overall positive expectation are still valid on intraday and short-term bases, and receives support from the Moving Average 50. Expected targets commence primarily at 156.75 and require the price to consolidate above 154.60 in order to confirm them. 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. | |
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