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Thread: GBP JPY

  1. #51
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    GBP JPY finds a new support 15/1/2014



    The pair touched 168.40 in its last trading which represents a new support for the bearish trading, to notice the price gain for positive momentum that supports breaching the moving average 55, carefully note that the pair will face a resistance level around 171.90 which might support forming a correctional bearish bias in the upcoming period to achieve 170.10

    Therefore, we expect forming a bearish bias if 171.90 settled, but Stochastic stability in the overbought level might support forming a sideways bias until providing a negative momentum to support our expectation for today.

    Expected trading range is between 171.90 and 170.10

    Expected trend for today: bearish if 172.00 settled

  2. #52
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    GBP JPY needs new momentum 20/1/2014



    The pair ended the bearish trading on Friday by touching 170.10 level which represents 23.6% Fibonacci level, to notice the price affection by sideways bias until now due to the lack of the negative momentum, which supports the correctional scenario. In general, holding above 169.10 level –which forms a support line against the bearish trading- makes us cancel the negative overview to expect turning back to show bullish bias until reaching 173.10 in the upcoming period.

    From all above, we recommend to stay aside for today due to the wide fluctuation range, to expect the price limitation between 171.70 and 169.30 levels, until getting clearer outlook for the upcoming period.

    Expected trading range is between: 171.70 and 169.30


    Expected trend for today: Neutral

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  4. #53
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    GBP JPY ends the correctional bias 21/1/2014



    The pair returned to form positive bias yesterday after it ended the bearish correctional bias by touching 168.50 support line, to noticed forming bullish wave attempting to settle near 172.20, which makes us expect renewing the positive in the upcoming period until reaching 173.10 level.

    Stochastic supports reviving the positivity by settling in the overbought area as appears on the image, which makes us keep the bullish bias overview conditioned by the stability above 169.15 support line for today.

    Expected trading range is between: 171.30 and 173.10

    Expected trend for today: Bullish

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  6. #54
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    By having the price stabilized around 169.00 we are expecting a drop on the H4 TF.


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  8. #55
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    GBP JPY suffers intraday losses 27/1/2014



    The pair was affected by the negative trading to break the initial support level at 169.60, suffering some losses by reaching 167.74 level, to keep the trading within the main bullish channel’s level as long as 161.85 support line remained intact. We expect the more attempts to show bearish bias in the upcoming period until reaching 166.50 level, followed by the moving average at 165.50, conditioned by the stability of 169.60 level which acts as a resistance against the bearish trading.

    Stochastic supports our bearish overview by settling around 20 level, to offer the required negative momentum and keep waiting to reach the mentioned target.

    Expected trading range is between: 169.50 and 166.65

    Expected trend for today: Bearish

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  10. #56
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    GBP/JPY Weekly Technical Report

    GBP/JPY Weekly Technical Report 27-31/1/2014



    The pair settled below 170.00 areas and the descending channel resistance shown on graph at 169.80, keeping the bearish bias favored today, targeting areas as far as 165.80. The pair acquired the fill targets of the Head and Shoulders pattern mentioned in previous reports. The positivity on momentum indicators might push the pair to retest 169.80-170.00 areas before returning to the downside, where a breach of those levels will halt the downside correction and revive the general uptrend.

  11. #57
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    GBP JPY approaches the target 3/2/2014



    The negative trading continued to push the pair to notice touching 167.40 level, approaching from the main target of the recent trading around 167.25, which represents the minor bearish channel’s support line, and in general, we keep the negative overview for the upcoming period to attempt to break the current support line which will push the price towards 165.60 level that forms the moving average 55.

    Breaking the current support needs new negative momentum, thus, there’s chances to form sideways range in the current period to be limited between 169.10 and the support line, until getting the required momentum to achieve the break.


    Expected trading range is between: 169.00 and 166.50


    Expected trend for today: Bearish

  12. #58
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    Quote Originally Posted by PCMAnalyst View Post
    By having the price stabilized around 169.00 we are expecting a drop on the H4 TF.






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  14. #59
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    GPB JPY resumes the negativity 4/2/2014



    The pair ended yesterday’s trading by breaking the minor bearish channel’s support to head towards the moving average and close below 164.55 placing 164.35 level, to confirm the continuation of the bearish bias domination and expect reaching the main support line at 162.40 in the near term and medium term.

    Stochastic turns to settle within the oversold area, which supports getting new negative momentum to stay waiting to reach the previously mentioned target.

    Expected trading range is between: 166.20 and 162.40

    Expected trend for today: Bearish

  15. #60
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    GBP JPY around the moving average 5/2/2014



    The pair achieved 163.88 to find a new support level that prevents hitting the main support which settles around 162.50 for today, which support the price fluctuation negatively for today if 166.70 settled as a resistance against the bearish trading until gaining a new negative momentum that supports achieving the main target around 162.50

    Stochastic attempts to get rid of the oversold level to attempt to gather new negative momentum to support our bearish expectation, and the stability of the trading below the moving average to make the price rally towards achieving the previously suggested target.

    Expected trading range is between 166.60 and 162.80

    Expected trend for today: bearish

 

 
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