GBPJPY Bullish but soon pullback GBPJPY surged sharply on the bullish pound sterling.
holding above short-term 21-EMA,
RSI Testing 70 level if break more up
but scope pullback at 70
Gbpjpyspot
GBPJPY NEXT WEEK ANALYSISIF WANT MORE ANALYSIS JUST FOLLOW FXBLUEPIPS , AND WAIT FOR THE NEXT UPDATE
GBPJPY buying position above 150.10 with targets at 151.10 & 151.80 in extension.
Alternative scenario in break of 150.10, a continuation of the decline will be possible with 149,70 & 149,15 in line of sight.
GBPJPYOur preference: sales position below 141.20 with targets at 139.50 & 138.10 in extension.
Alternative scenario: in excess of 141.20, aim for a continuation of the increase with 141.80 & 142.65 in line of sight.
Comment: as long as 141,20 is not exceeded the risk of a depression of 139,50 is important.
GBPJPY - FOREX MARKET ANALYSIS AND TRADING TIPS 29TH MARCH 2016SUMMARY:
The secondary trend of GBP/JPY is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and is taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 164.10 and support at the level of 158.40. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY:
GBP/JPY is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.
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GBPJPY LONGThe reason why we feel GBPJPY may RISE.
* On weekly basis it has just started moving UP.
* To RISE and come near 164.86 levels
* Stoch RSI (3,3,14,Close) is Rising.
* RSI (14,CLOSE) is Rising.
* CCI (20,CLOSE) is Rising.
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above :163.29, SL:162.85 Tgt 01: 164.37, Tgt 02: 164.86, Tgt 03: 166.35. The view expressed here is on weekly basis. [b ]Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
GBPJPY LONG WEEKLYWe expect GBPJPY to RISE.
CCI is rising.
RSI is rising.
STOCHASTIC RSI is rising.
We would like to LONG GBPJPY above: 160.93 SL: 160.38 TGT 01: 162.31 TGT 02: 162.92 TGT 03: 164.80
Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
GBPJPY SHORTGBPJPY is expected to sink now.
There are many reason why we feel it may sink.
* ABANDONED BABY in daily Chart .
* To sink and come near 154.14 levels
* Stoch RSI (3,3,14,Close) is not in favour.
* RSI (14,CLOSE) Is saying it may sink.
* CCI (20,CLOSE) Is also sinking.
Keeping all the above indicators in view along with the chart pattern we expect it to sink. Our sell call shall be from sell bellow:155.82 SL:156.48 Tgt 01: 154.14 Tgt 02:153.40 Tgt 03:151.14
. We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial adviser before investing.
