empty
 
 
02.10.2012 06:20 PM
GBP/JPY Technical Levels and Trading Recommendations for October 2, 2012

 

This image is no longer relevant

 

Overview
Proceeding from today's H4 chart, the pair is still trading below the Resistance level of 126.10 and can't break it. If the pair manages today to break this Resistance level and closes 4H above, we will receive a strong indicator for more bullish signals which will enable the Resistance level of 126.85 as the level target. Then we should wait for breaking this Resistance level to continue the upward move and open the way towards the Resistance level of 127.75.
On the other hand, if the pair fails to break the Resistance level of 126.10 and bounces from it, it may reverse the bullish move taking a downward move which will enable Support level of 125.30 again. Then we should wait for breaking this Support level in order to get new bearish signals. In case the pair is able to break the Support level and closes 4H below, we will get a bearish strength providing new sell signals which will enable the Support level of 125.00 as a level target. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level 126.10 is unbroken, the downward move is still expected invalidating the bullish outlook. Therefore, we should wait for more confirmations before making the decision.


Resistance and Support Levels

R3(127.75)
R2(126.85)
R1(126.10)
S1(125.30)
S2(125.00)
S3(124.25)


Trading Recommendations

According to the previous analysis, we recommend buying after breaking the Resistance level 126.10 and closing 4H above with TP 126.25; SL closing 4 hours below the Resistance level will be appropriate.

InstaForex Analyst,
Especialista em análise na InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $10000 mais!
    Em Janeiro nós sorteamos $10000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback