Good afternoon, dear reader!
We offer you a technical analysis of the currency pair: #GBPJPY
Comments last week:
The currency pair was not willing to grow all last trading week, the bullish potential was limited by the resistance zone 133.15-133.00. And only at the beginning of the current trading week, the bulls were able to fix prices above the necessary resistance.
Having formed a global rising channel, the currency pair continued to grow beyond its borders.
"Current investor enthusiasm is a bit inconsistent in the face of potential negative rates, a triple deficit, and disagreement over Brexit."
Managing WMCI Asset Management
Sergey Vokinlem.
Technical analysis:
H1 (Technical) -H4 (indicative).
The pound formed a local upward channel this week, the resistance for the currency pair is at around 137.60.
But even on the approach to the 137th figure, we feel the resistance of the sellers, so if the pair cannot pass 137-137.60, we will get a reversal.
Indicative analysis provides the following information:
1. There is oversold currency on a 4-hour time frame, on older time frames as well (located in a potential sales area).
2. The price behavior indicator shows that the price is in an excess zone with respect to the 4-day trend, as soon as the pair exits from it, you can try new sales.
Global variables:
• Volatility: Weekly = 147 points // Monthly = 154 points // Quarterly = 151 points.
• Trends:
55 - day SMA continued to grow;
100 - day SMA continues to decline;
200 - day SMA started to grow;
• Range Ratio: 260 points (Drop from 317 points).
- Maximum amplitude per week.
Recommendations:
Buying at current prices is extremely risky, so at the moment it is necessary to consider sales, but only if there is consolidation and we exit the local uptrend.
Best Regards,
"Wermelgion & Partners"
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion & Co” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
We offer you a technical analysis of the currency pair: #GBPJPY
Comments last week:
The currency pair was not willing to grow all last trading week, the bullish potential was limited by the resistance zone 133.15-133.00. And only at the beginning of the current trading week, the bulls were able to fix prices above the necessary resistance.
Having formed a global rising channel, the currency pair continued to grow beyond its borders.
"Current investor enthusiasm is a bit inconsistent in the face of potential negative rates, a triple deficit, and disagreement over Brexit."
Managing WMCI Asset Management
Sergey Vokinlem.
Technical analysis:
H1 (Technical) -H4 (indicative).
The pound formed a local upward channel this week, the resistance for the currency pair is at around 137.60.
But even on the approach to the 137th figure, we feel the resistance of the sellers, so if the pair cannot pass 137-137.60, we will get a reversal.
Indicative analysis provides the following information:
1. There is oversold currency on a 4-hour time frame, on older time frames as well (located in a potential sales area).
2. The price behavior indicator shows that the price is in an excess zone with respect to the 4-day trend, as soon as the pair exits from it, you can try new sales.
Global variables:
• Volatility: Weekly = 147 points // Monthly = 154 points // Quarterly = 151 points.
• Trends:
55 - day SMA continued to grow;
100 - day SMA continues to decline;
200 - day SMA started to grow;
• Range Ratio: 260 points (Drop from 317 points).
- Maximum amplitude per week.
Recommendations:
Buying at current prices is extremely risky, so at the moment it is necessary to consider sales, but only if there is consolidation and we exit the local uptrend.
Best Regards,
"Wermelgion & Partners"
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion & Co” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.