empty
 
 
27.05.2014 06:04 PM
Daily analysis of GBP/JPY for May 27, 2014
This image is no longer relevant

Overview:

According to the today's H4 chart and as it was expected, the pair must have taken new bullish signals in case of closing 4H above the Resistance level of 171.50 after it was tested yesterday. Today, the pair took an upward movement and has managed to break the strong resistance area at 171.50, but immediately it bounced again from the Resistance level 172.00 to reverse its upward direction and currently the price is trading below the resistance level. More bullish signals are still expected in case of closing above this resistance level again with first target few pips below the resistance level of 172.75, hence we should wait for more confirmations before making the decision.

Resistance and support levels: R3 (172.75), R2 (172.00), R1 (171.50), S1 (171.00), S2 (170.00), S3 (169.75).




Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $9000 more!
    In May we raffle $9000 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback