empty
 
 
04.02.2015 09:18 AM
Technical analysis of GBP/JPY for Feburary 04, 2015
This image is no longer relevant

Fundamental overview:
GBP/JPY is expected to trade in a higher range. It is supported by the improved euro sentiment as worries over Greece are waning, the positive risk sentiment, and demand from Japan's importers. But EUR/JPY gains are tempered by Japan's export sales. GBP/JPY gains are tempered by the sterling sales on buoyant EUR/GBP cross as well as caution ahead of Bank of England interest rate decision on Thursday.

Technical comment:
Daily chart is positive-biased as MACD and stochastics are in bullish mode, bullish parabolic stop-and-reverse signal hit on Tuesday.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.178.95 and the second target at 179.40. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 177.20. A break of this target would push the pair further downwards, and one may expect the second target at 176.70. The pivot point is at 177.50.

Resistance levels:
178.95
179.40
1780

Support levels:
177.20
176.70
176

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 June 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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