Forex Signals - Free Forex Trading Forecasts and Signals » GBP/JPY

GBP/JPY Stalking Pullback for Confirmation

admin — Mon, 12 Jul 2010 14:53:50 +0000

The 4H chart shows the pair bouncing off a 61.8% retracement level. Momentum has been ranging, but there is a slight bearish bias looking at the RSI levels in the 4H chart. The 1H RSI broke below 40 reflecting momentum of the current bearish attempt. The 1H chart shows that View full post on Technical Analysis

GBP/JPY: Topped off at 133.80?

admin — Mon, 05 Jul 2010 22:36:38 +0000

The GBP/JPY pair may have topped off at the 133.80 level. In the 4H chart, this is the 61.8% retracement of the previous downswing. The market attempted break this level, but formed a topping action. The market has then declined and is now at 132.50 level, 50% retracement of the View full post on Technical Analysis

GBP/JPY: A Pullback after Double Top; Price Action Volatile but Within Daily Range

admin — Fri, 02 Jul 2010 19:01:34 +0000

The GBP/JPY completed a double top ahead of today’s NFP release at 8:30AM ET. This double top suggests a decline, but it can also be a flat correction to be followed by continuation. Normally, I would be looking at the pullback to see if it can be rejected. A pullback View full post on Technical Analysis

GBP/JPY Drops to Support After Breaking Down

admin — Wed, 30 Jun 2010 23:03:38 +0000

Price action on GBP/JPY, a daily chart of which is shown, has broken down below an uptrend support line extending from the May low. This uptrend line represents a bullish correction within a larger parallel downtrend channel extending from the August 2009 high. The breakdown of this intra-channel uptrend support View full post on Technical Analysis

GBP/JPY: Bearish Momentum Pop May Imply Weakness

admin — Wed, 30 Jun 2010 01:16:28 +0000

Here I define a bearish RSI(14) pop as a it swings from above 60 straight down below 30 without crossing over its own 5-moving average. The bearish signal is based on the fact that the market is able to muster enough momentum against the prevailing trend, implying weakness to come. View full post on Technical Analysis

GBP/JPY Weighing to the Downside

admin — Thu, 24 Jun 2010 22:31:35 +0000

Price action on GBP/JPY, a daily chart of which is shown, has recently been hinting at a potential breakdown of the bullish correction that this currency pair has been entrenched in since the long-term low was hit in late May. This bullish correction exists within the context of a steep View full post on Technical Analysis

GBP/JPY Completes Topping Action; Tests Support

admin — Tue, 22 Jun 2010 13:47:55 +0000

The GBP/JPY has shown that topping action may be complete. The RSI confirms with a crossover under its 5-period moving average. The negative reversal suggests an aggressive target of 123. However, in the short-term, the 130.45 area is the target. This is 61.8% retracement, and is also the target for View full post on Technical Analysis

GBP/JPY in a Squeeze

admin — Tue, 15 Jun 2010 12:00:16 +0000

Following up with the previous GBP/JPY post, which had a gartley anticipated to complete near 140.00, the GBP/JPY continue to decline in the Asian and European session. This decline brought the market to 61.8% retracement before bouncing back up. 4H chart shows the swing projetion towards 139.30. (this projection truncated View full post on Technical Analysis

GBP/JPY Stalking Gartley Retracement

admin — Tue, 15 Jun 2010 02:34:17 +0000

The daily chart of the GBP/JPY shows a rally attempt projecting towards 140 area to complete a gartley retracement pattern. The RSI momentum shows an ability to rise above 50 and stay above its own 5-period. simple moving average. The RSI in the 4H chart is able to rise above View full post on Technical Analysis

GBP/JPY: Rally Attempt Tested; Slingshot or Reversal?

admin — Fri, 11 Jun 2010 13:39:43 +0000

The GBP/JPY has been rallying, and so far appears to have had 2 legs of rally since last touching the 131 support. In this 4H chart, you can see the market test 135, and the 200-period simple moving average (in grey). The market reacted to this resistance zone with weakness, View full post on Technical Analysis