empty
 
 
11.09.2015 03:21 PM
Daily analysis of GBP/JPY for September 11, 2015

This image is no longer relevant

Overview

In the context of in GBP/JPY pair, focus is back on 61.8% retracement of 174.86 to 195.86 at 182.88. Sustained trading there is an early sign of larger trend reversal that cpould result in a deeper fall back to the key support level of 174.86. Meanwhile, strong rebound from the current level would send GBP/JPY towards a new high above 195.86. But there is still not enough evidence for mid-term reversal yet. The uptrend from 116.83 could extend to 61.8% retracement of 251.09 to 116.83 at 199.80, which is closer to the psychological level of 200. Meanwhile, consider bearish divergence condition in the weekly MACD. A break of support at 174.86 will suggest that the trend has reversed earlier than we expect.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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