Archive for GBP/JPY

Double Bottom for the GBP/JPY Daily?

by: August 30, 2010

This Flag has broken through the support line at 30-Aug 12:00 GMT. There’s a possible bearish price movement forecast towards 106.84.

Chart date range
04-Jan 00:00 GMT-> 29-Aug 00:00 GMT

Data Interval
Daily

Resistance Levels

(B)
137.77

Last resistance turning point of Channel Down.

Support Levels

(A)
126.71

Last support turning point of Channel Down.

GBP/JPY Rests on Uptrend Line Support

by: November 4, 2009

The GBP/JPY - a favored pair by trader who enjoy volatility - is trending higher as prices rest on the uptrend line support of the Continuation Channel Up pattern.  This trending pattern is an ideal formation for this moment in the mark up mark cycle as the Initial Trend (IT) reading is reading at medium strength.  This means that [...]