empty
 
 
03.02.2014 06:05 PM
Technical analysis of GBP/JPY for Feburary 03, 2014

This image is no longer relevant

Overview:

GBP/JPY is expected to trade in a lower range.It is undermined by the weak euro sentiment, increased investor risk aversion and Japan's export sales. But GBP/JPY losses are tempered by the demand from the Japanese importers. Daily chart is negative-biased as MACD is bearish; stochastics stays suppressed at oversold zone, five and 15-day moving averages are declining.

Trading recommendation:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. A short position is recommended with the first target at 165.75 in mind. A breach of this target will move the pair further downwards to 165. The pivot point stands at 168.1. In case the price moves in the opposite direction, bounces back from support, and moves above its pivot point, it is most favourably expected to move further to the upside. In that scenario, a long position is recommended with the first target at 168.25 and the second target at 169.8.

Resistance levels:
168.25
169.8
170.45

Support levels:
165.75
165
164.35

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback