GBP/JPY 05/09/16 onwards

FX:GBPJPY   British Pound / Japanese Yen
After seeing GBP/JPY             make a large move over the past 2 weeks to the strong 1D resistance line, I feel a retrace is necessary for price to break the resistance and continue towards the 145.00 level. From 138.1 - 143.25 sellers have kicked it and stop price moving above.

Concept 1: Sellers stop price passing the resistance and we retrace to 132.5 (61.8% Fib from monthly low to resistance) Before buyers kick back in and move the market back up.

Concept 2: Price continues to follow the descending triangle and eventually drops through support or bounces from support to try resistance again till one wins!

We have little data from the UK next week and a lot from JPY, If the strength is still with JPY currency these moves will be easily achievable.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out