empty
 
 
03.04.2014 06:15 PM
Technical analysis of GBPJPY for April 3, 2014

This image is no longer relevant

Overview:

GBP/JPY is expected to trade with risks skewed lower. It is undermined by soft EUR/USD undertone and the Japanese exports sales. But EUR/JPY losses are tempered by the positive risk appetite, demand from the Japanese importers and loose Bank of Japan monetary policy. Daily chart is still positive-biased as MACD stochastics are in bullish mode, 5-day moving average is above 15-day MA and is advancing.

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. Short position is recommended with the first target at 171.65. A breach of this target will move the pair further downwards to 170.90. The pivot point stands at 173.15. In case the price moves in the opposite direction and bounces back from support level, and then it moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 173.60 and the second target at 174.20.

Resistance levels:
173.60
174.20
174.50

Support levels:
171.65
170.90
170.30

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