GBP/JPY technical levels and trading recommendations for August 30, 2013
September 2, 2013 8:15 am
Overview
From the today’s H4 chart, yesterday’s closing below the Resistance level 152.85 gives the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the Support level 151.00 and closing 4h below. In that case we may get another opportunity for more sell signals and it opens the way towards 150.30, as first target, and then the price should test the Support level 149.50 to continue its bearish move. But as long as the price stabilizes above the Support level 151.00 it cancels the first scenario.
Resistance and support levels: R3 (153.45), R2 (152.85), R1 (152.15), S1 (151.00), S2 (150.30), S3 (149.50).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
From the today’s H4 chart, yesterday’s closing below the Resistance level 152.85 gives the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the Support level 151.00 and closing 4h below. In that case we may get another opportunity for more sell signals and it opens the way towards 150.30, as first target, and then the price should test the Support level 149.50 to continue its bearish move. But as long as the price stabilizes above the Support level 151.00 it cancels the first scenario.
Resistance and support levels: R3 (153.45), R2 (152.85), R1 (152.15), S1 (151.00), S2 (150.30), S3 (149.50).
The material has been provided by InstaForex Company – www.instaforex.com
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