GBPJPY: Bullish Bias (Sep 26, 2013)
September 26, 2013 6:45 amVideo
Latest News
- Midweek Technical Look – EURUSD, Gold, US 500 May 9, 2024
- Technical Analysis – EURCHF flirts with uptrend line May 9, 2024
- Technical Analysis – EURGBP runs out of steam near 0.8600 May 9, 2024
- Forex forecast 05/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin from Sebastian Seliga May 9, 2024
- USD/JPY: trading tips for beginners for European session on May 9 May 9, 2024
- Technical Analysis – USDJPY advances after bouncing off 50-day SMA May 9, 2024
- Market Comment – Pound slides ahead of Bank of England decision May 9, 2024
- Technical Analysis – NZDUSD bulls face strong resistance May 9, 2024
- GBP/USD: trading tips for beginners for European session on May 9 May 9, 2024
- EUR/USD: trading tips for beginners for European session on May 9 May 9, 2024
- Key events on May 9: fundamental analysis for beginners May 9, 2024
- Trading plan for GBP/USD on May 9. Simple tips for beginners May 9, 2024
- Trading plan for EUR/USD on May 9. Simple tips for beginners May 9, 2024
- Forecast for EUR/USD on May 9, 2024 May 9, 2024
- Forecast for GBP/USD on May 2024 May 9, 2024
- Forecast for USD/JPY on May 9, 2024 May 9, 2024
- Outlook for GBP/USD on May 9. The pound flat ahead of the Bank of England meeting May 9, 2024
- Outlook for EUR/USD on May 9. Third consecutive boring day for the euro May 9, 2024
- What to expect from the Bank of England meeting? May 9, 2024
- The euro hits certain points May 9, 2024
Overview:
GBPJPY is consolidating with bullish bias after hitting four-day low on Wednesday. Undermined by diminished investor risk appetite; Japan exporter sales. But GBP/JPY losses tempered by improved euro sentiment; demand from Japan importers. Daily chart is mixed as MACD is bullish, but stochastics is falling from overbought.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, trading in a higher range is the most favorable and a buy position is recommended above its pivot, with the first target at 159.45 and the second target at 160. You should keep in view short positions below the pivot. Keep the first target at 157.25. The breach of this target will move the pair downwards further and one may expect the second target at 156.6. The pivot point stands at 157.9.
Resistance levels:
159.45
160
160.6
Support levels:
157.25
156.6
156
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: