GBP/JPY technical levels and trading recommendations for July 15, 2013
July 15, 2013 3:07 pm
Overview: From the today’s H4 chart, the price opened this week inside the bearish channel and currently is testing its upper boundary after its rebound from its lower limit with the Support level 149.65 yesterday. More bearish signals would be expected in case of bouncing from the upper limit of the bearish channel to break the Support level 150.60, then in this case we will get a new opportunity for more bearish signals till reaching the Support level 149.65 as our first level and then we should wait for breaking this Support level as well to continue the downward move with more sell signals. But as long as the price is trading above the Support level 150.60 this cancels the bearish scenario and gives another opportunity for bullish signals.
Resistance and support levels: R3 (151.90) R2 (151.50) R1 (151.15), S1 (150.60), S2 (149.65), S3 (148.85)
The material has been provided by InstaForex Company – www.instaforex.com
Overview: From the today’s H4 chart, the price opened this week inside the bearish channel and currently is testing its upper boundary after its rebound from its lower limit with the Support level 149.65 yesterday. More bearish signals would be expected in case of bouncing from the upper limit of the bearish channel to break the Support level 150.60, then in this case we will get a new opportunity for more bearish signals till reaching the Support level 149.65 as our first level and then we should wait for breaking this Support level as well to continue the downward move with more sell signals. But as long as the price is trading above the Support level 150.60 this cancels the bearish scenario and gives another opportunity for bullish signals.
Resistance and support levels: R3 (151.90) R2 (151.50) R1 (151.15), S1 (150.60), S2 (149.65), S3 (148.85)
The material has been provided by InstaForex Company – www.instaforex.com
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