empty
 
 
30.07.2014 06:45 PM
Daily analysis of GBP/JPY for July 30, 2014

This image is no longer relevant

Overview

From the today's H4 chart and as it was expected yesterday, the pair might take a new bullish signal in case of closing 4H above the resistance level of 173.30 after it was tested yesterday. Today, the pair took an upward movement and managed to break the strong resistance area of 173.30 then 173.75, but immediately it has bounced again from the resistance level of 173.75 to reverse its upward direction and currently the price is trading around this resistance area. More bullish signals are still expected in case of closing above this resistance area with the first target few pips below the resistance level of 174.00, hence we should wait for more confirmations before making the decision.

Resistance and support levels: R3 (175.00), R2 (174.40), R1 (173.75), S1 (173.30), S2 (172.60), S3 (172.20).

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 $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
  • 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