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GBP/JPY Technical Analysis
(British Pound / Yen)
Updated the: 05/22/2013 |
GBP/JPY : Trend reversal following the BoJ decision |
Sentiment :  154.50  153.37  |
--- Follow up analysis ---
Since May 10th, the pair GBP/JPY is in a consolidation phase and oscillates around the resistance 156. This evolution has led to the horizontal break of its short term bullish slant (blue line). Currently the price is testing the lower band of its medium term bullish channel (purple lines) and is moving just below 156. We continue to advise long positions as far as 154.50 is support. A return above 156 will comfort our bullish feeling. The breakout of last highs at 156.56 points will give a new buy signal and should allow the pair to reach 158.50. In case of return below 154.50 (exit of the channel), we will advise to be flat between this level and 153.37 (major support). Full analysis Analysis published by Bruno, the 05/22/2013 at 8h55 GMT+2 |
Chart of the pair GBP/JPY - Timeframe 1H |
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Live GBP/JPY Chart - Timeframe : 1H*
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