empty
 
 
06.10.2010 09:45 AM
GBP/JPY candlestick analysis for 06/10/2010

The GBP/JPY pair rolls back after it broke through the support level of 131.71. Nevertheless, the viewpoint on the currency pair remains bearish as the GBP/JPY is traded in downtrend.
Earlier on a 4-hour chart of the GBP/JPY, the combination of candlesticks Bearish Engulfing has formed, thus signaling about decline. This candlestick formed after the currency pair could not breach the mark of 135.00, thus denoting that bulls did not fixate here and bears started to increase their influence. The breakthrough of Fibonacci correctional level of 23.6 means that this viewpoint is correct. Besides, the GBP/JPY has formed another bearish combination of candlesticks Falling Three Methods. The breach of the support level of 131.71 will set a target to 130.00-130.10 for the currency pair. However, if the resistance level of 133.75 is broken through, then short positions should be closed, as it will lead to increase to 135.00.

This image is no longer relevant

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback