empty
 
 
01.03.2019 02:02 PM
GBP/JPY analysis for March 01, 2019

GBP/JPY did the fake breakout of the resistance at 148.22, which resulted that sellers entered the market.

This image is no longer relevant

According to the H1 time -frame, we found a hidden bearish divergence on the Stochastic oscillator, which did set the bearish tone today. There is also breakout of the 10h balance support at 148.00, which is another sign of the GBP weakness. Short-term support is seen at the price of 147.00 and 146.15. Key short-term resistance is set at 148.33.

Trading recommendation: We are short GBP from 147.90 and protective stop at 148.35. Downward targets are set at the price of 147.00 and 146.15.

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 $8000 more!
    In March we raffle $8000 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