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GBP/JPY : Resumption of the uptrend


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#1 ⇑ Haut ⇑ 25-01-2013 09:55:00

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GBP/JPY : Resumption of the uptrend

The pair GBP/JPY made ​​midweek a false break of the uptrend line (blue line). The major support at 139.50 has allowed a powerful rebound and a return above the bullish slant. The upward break of 142 gave us the buy signal.

We recommend to trade only long positions as far as 141 is support. The break of 144 will give a new buy signal, a level that includes all the latest high. In case of breakout, a new buy signal will be given and the price should then pursuit its movement towards the next resistance at 146.

In case of return below 141 (return below the bullish slant), we will be neutral between this level and the support at 139.50.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-25012013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-25012013.png







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#2 ⇑ Haut ⇑ 31-01-2013 09:56:30

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Re: GBP/JPY : Resumption of the uptrend

After a pullback on the support at 142 and its long term bullish slant (blue line), the pair GBP/JPY is currently testing for the 4th time the resistance at 144. The breakout of this level is expected soon and should cause a further upward acceleration to 146 and 148.

The bullish scenario is reinforced by the presence of a short bullish slant (purple dotted line) which form an ascending triangle with the resistance at 144. We continue to advise long positions as far as 142 is support.

In case of return below that level, we will be neutral between 142 and the major support at 139.56.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-31012013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-31012013.png




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#3 ⇑ Haut ⇑ 01-02-2013 10:22:17

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Re: GBP/JPY : Resumption of the uptrend

The pair GBP/JPY has broken as expected the resistance at 144 which gathered all the annual highs. From a fundamental point of view, this new bullish momentum is justified by expectations of a new Governor at the Central Bank of Japan. Currently, the price is testing the resistance at 146 and has reached in extension the lower limit of its former bullish channel (black lines).

We continue to advise long positions as far as 143.70 is support. This level corresponds to the long-term bullish slant (blue line). The price may also find support on its short-term bullish slant (purple dotted line). The validation of the break of 146 will give a new buy signal and will allow the price to reach 148 and 150 in extension.

In case of return below 143.70, we will be neutral between this level and the support 142.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-01022013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-01022013.png




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#4 ⇑ Haut ⇑ 12-02-2013 09:20:36

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Re: GBP/JPY : Resumption of the uptrend

The pair GBP/JPY has shown signs of breathlessness last week between 145 and 147 but the price seems about to make a new upward acceleration. On the short term this means the appearance of a new short-term bullish channel (purple lines) which should allow the break of 148 (tested for the second time).

We continue to advise long positions as far as 145 is support. This level corresponds to the long-term bullish slant (blue line). The price may also find support on the lower limit of the short term bullish channel towards 146. The break of 148 will give a new buy signal and would allow the price to reach 150.

In case of return below 145, we will be neutral between this level and the support 142.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-12022013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-12022013.png




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#5 ⇑ Haut ⇑ 15-02-2013 09:46:27

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Re: GBP/JPY : Resumption of the uptrend

After completing a double top on the resistance at 148, the pair GBP/JPY has started a correction. The price is out of its short-term bullish channel (blue lines). The return below the support at 145 make us come neutral on the pair between this level and the support 142. However, a new medium term upward slant can be traced by interpolation (only 2 points of contact for the moment), the third contact point being currently tested (purple line).

We therefore advise to wait an exit of the range 142/145 to take position:

- Long in case of return above 145. The new bullish slant would be confirmed. The break of 146 will give a new buy signal and we would then expect a retest of 148.

- Short in case of breakout of 142. The bullish slant would then not be validated. A return of 140 will be initially expected.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-15022013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-15022013.png




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#6 ⇑ Haut ⇑ 18-02-2013 09:00:04

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Re: GBP/JPY : Resumption of the uptrend

Last Friday, a strong rebound occured on the pair GBP/JPY, allowing the validation of our medium-term bullish slant (purple line - 3 points of contact). 143 also acted as support. The price is back above our neutral zone. The return above 145 gave us a buy signal. Currently, the pair is testing a major resistance on the short and medium term at 146.

We continue to advise long positions as far as 144 is support (level of the slant). The break of 146 would allow a return on the highs at 148.

In case of return below 144 (which will mark a break of the bullish slant), we will be neutral between this level and 143 (last low).

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-18022013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-18022013.png




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    GBP/JPY : Resumption of the uptrend



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