empty
 
 
27.01.2016 05:21 PM
Daily analysis of GBP/JPY for January 27, 2016

This image is no longer relevant

Overview

The attached H4 chart demonstrates that GBP/JPY remains neutral for the moment. The consolidation from the 163.96 short-term bottom could extend with another rise. But we expect the upside to be limited by the 38.2% retracement of 188.79 to 163.96 at 173.44 and bring a fall resumption. A break of 163.96 will extend the fall from 195.86. A fall from 195.86 is currently viewed as a correction; and the 38.2% retracement of 116.83 to 195.86 at 165.67 has already been met. Based on the current momentum, the correction is likely to extend to the 61.8% retracement at 147.01 before the completion.

Daily Pivots: (S1) 167.89; (P) 168.94; (R1) 169.59

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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

Recommended Stories

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