GBP/JPY technical levels and trading recommendations for October 28, 2013
October 28, 2013 4:30 pm
Overview
From the today’s H4 chart, we can notice that the pair opened this week below the Resistance level 158.00 which would give the pair a good opportunity to start its bearish move. Actually and as shown, the pair took a slightly downward move and currently is trading above the support level 156.70 and below the resistance level 158.00 directly. More bearish signals are still expected as long as the pair is trading below the resistance level, so we can consider our first target few pips above the support level 156.70, then it is preferred to wait for breaking this support level and closing 4H below to continue the bearish move.
Resistance and support levels: R3 (159.50) R2 (158.70) R1 (158.00), S1 (156.70), S2 (156.00), S3 (155.20).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
From the today’s H4 chart, we can notice that the pair opened this week below the Resistance level 158.00 which would give the pair a good opportunity to start its bearish move. Actually and as shown, the pair took a slightly downward move and currently is trading above the support level 156.70 and below the resistance level 158.00 directly. More bearish signals are still expected as long as the pair is trading below the resistance level, so we can consider our first target few pips above the support level 156.70, then it is preferred to wait for breaking this support level and closing 4H below to continue the bearish move.
Resistance and support levels: R3 (159.50) R2 (158.70) R1 (158.00), S1 (156.70), S2 (156.00), S3 (155.20).
The material has been provided by InstaForex Company – www.instaforex.com
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