GBPJPY: Crossed the 1W MA200 for the first time in 3 years. Buy.

FX_IDC:GBPJPY   British Pound / Japanese Yen
GBPJPY made a new strong bullish leg (after breaking the 1W MA50 in October) on the 1W chart ( RSI = 68.011, MACD = 1.620, Highs/Lows = 5.9850, ADX = 42.195) that succeeded at crossing above the 1W MA200 last week. That was the first time it crossed above that level in 3 years. Last time it crossed above the 1W MA200 (then after trading below it for 4 years) was in December 2012 and a hyper strong bullish wave started that lasted 3.5 years.

Since that multi-year buy sequence peaked just below the 0.618 Fibonacci retracement level, we assume the current wave will also reach at least its 0.618 Fib point, and we've set a Target Zone for that at 162.000 - 168.000. Notice also how every low since September 2011 is connected by a straight line that offers Higher Low Support. This indicates that on the long term there are willing buyers who defend this certain level and create a strong demand zone .

** If you like our free content follow our profile ( to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out