fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for GBP/JPY Thu Dec 05, 2013 10:59 am | |
| Technical Analysis for GBP/JPY The pair is gradually moving lower signaling possible downside correction over intraday basis. We also can see signs of a negative pattern formation, and the negativity on momentum indicators support the can support the completion of the pattern, where the confirmation level is at 166.85. We will stand on the sidelines for now and observe trading at critical levels between the neckline mentioned at 166.85 and the resistance at 168.35. Support: 166.85, 166.50, 165.75, 165.25, 164.85 Resistance: 167.75, 168.35, 169.00, 170.00, 170.35 Recommendation We remain on the sidelines for now waiting for more confirmations | |
|