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GBP/JPY : End of the uptrend ?


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#1 ⇑ Haut ⇑ 21-02-2013 09:41:45

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GBP/JPY : End of the uptrend ?

The weakness of the Sterling Pound has led to a new bearish wave on GBP/JPY. The medium-term bullish slant (purple line) which gave support since December has been broken. Uptrend background is now in danger. The output of the neutral zone 144/143 from the bottom gave us the sell signal. Currently, the price is testing the support 142. A technical rebound could occur on this level. In fact, the price is currently testing the lower limit of a short-term bearish channel (blue lines).

We recommend to trade only short positions as far as 144 is resistance. This level corresponds to the upper limit of the  short term bearish channel. The downtrend should continue until major support at 140. This level is very important. Its breakout will put an end to the uptrend background.

In case of return above 144, we will be neutral between this level and 146.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-21022013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-21022013.png







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#2 ⇑ Haut ⇑ 26-02-2013 09:49:58

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Re: GBP/JPY : End of the uptrend ?

After a pullback on 143, a new bearish wave occurred on the pair GBP/JPY. The price is currently testing the major support at 140. Its breakout would definitively end the uptrend background. This level includes all lows of 2013. The last bearish movement is part of a medium term downtrend channel (black lines), which is the same than the short-term downtrend channel that we identified earlier.

We continue to advise short positions as far as 142.75 is resistance. The validation of the break of 140 should allow the price to continue its bearish rally towards 138 and 136 in extension.

In case of return above 142.75, we will be neutral between this level and the major resistance at 144.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-26022013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-26022013.png




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#3 ⇑ Haut ⇑ 04-03-2013 09:48:58

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Re: GBP/JPY : End of the uptrend ?

At the beginning of last week, the pair GBP/JPY found support on 138. This level has allowed a rebound of the price who is currently testing the upper band of the medium term downtrend channel (black lines). This level also corresponds to the resistance at 141.

We continue to advise short positions as far as 141 is resistance. A return below 140 would reinforce our bearish sentiment and would indicate the resumption of the huge correction. The break of 138 will give a new sell signal and should open the way towards 136.

In case of return above 141 (output of downtrend channel), we will be neutral between this level and 142.75.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-04032013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-04032013.png




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#4 ⇑ Haut ⇑ 08-03-2013 09:43:15

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Re: GBP/JPY : End of the uptrend ?

Uptrend background does not seem to end. The price broke the resistance at 141 (output level of short positions) a few days ago and the break up of the resistance at 142.75 just give us a buy signal. The pair GBP/JPY is out of its medium term bearish channel (black lines) and fits into a new short term uptrend channel (blue lines). The upper band is currently being tested.

We recommend to trade only long positions as far as 141.50 is support. This level corresponds to the lower band of the new channel. The break of key resistance at 144 will give a new buy signal and should allow the price to reach 145 (also stong resistance).

In case of return below 141.50 (output of the uptrend channel), we will be neutral between this level and the major support at 140.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-08032013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-08032013.png




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#5 ⇑ Haut ⇑ 14-03-2013 09:27:21

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Re: GBP/JPY : End of the uptrend ?

Since the end of last week, the pair GBP/JPY is moving horizontally between the support at 142.74 and the major resistance at 144. The price is about to test for the 3rd time this last level. The pair is still into its short term bullish channel (blue lines).

We recommend to trade only long positions as far as 142 is support. This level corresponds to the last low. The break of the key resistance at 144 will give a new buy signal and should allow the price to reach 145 (also stong resistance) and 146 in extension.

In case of return below 142 (output of the uptrend channel), we will be neutral between this level and 141. On the medium term, a head and shoulders pattern will be then shaped. The neck line will be at 140.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-14032013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-14032013.png




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#6 ⇑ Haut ⇑ 20-03-2013 10:18:04

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Re: GBP/JPY : End of the uptrend ?

At the end of last week, the pair GBP/JPY has continued its bullish movement to perform a new high on 145.88. Subsequently, a major correction occurred, pushing back the price on the medium term support at 142.37. Since the beginning of the week, the price attempts to resume its uptrend but faces resistance on 144/144.50 and also on the lower band of the former short-term uptrend channel (blue lines).

We continue to advise long positions as far as 142.37 is support. This level corresponds to all the last lows. A return above the major resistance at 144 would reinforce our bullish sentiment. The break of 145 will give a new buy signal and should allow the price to return on 145.88.

In case of return below 142.37, we will be neutral between this level and 141.50. Attention, on the short/medium term, a head and shoulders pattern seems to shape. If the price starts to fall, the pattern will be confirmed by the break of the neck line at 141.50.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-20032013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-20032013.png




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#7 ⇑ Haut ⇑ 21-03-2013 08:45:44

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Re: GBP/JPY : End of the uptrend ?

The pair GBP/JPY resumed its uptrend yesterday, thus invalidating the formation of a  head and shoulders pattern (reversal pattern). The price is back above the resistance at 144 and is testing the next one at 145. Last lows allowed us to draw a new medium term bullish channel (black lines). On the short term, the pair continues to evolve along the lower band of its bullish channel (blue lines).

We continue to advise long positions as far as 143.22 is support. This corresponds to the last short term low. The validation of the breakout of 145 will give a new buy signal and should allow the price to reach its last high at 145.88. By extension, 147 could be reached.

In case of return below 143.22, we will be neutral between this level and 142.37 (last medium term low).

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-21032013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-21032013.png




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#8 ⇑ Haut ⇑ 26-03-2013 09:46:19

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Re: GBP/JPY : End of the uptrend ?

At the end of last week, the pair GBP/JPY failed to overcome the resistance at 145. A powerful movement of correction has occured, resulting to an output of the medium term bullish channel (black lines). The downward movement has been stopped on the level gathering all last lows at 142.37.

We are currently neutral between this level and 143.22. We advise to wait an exit of this range to take position:

- Long in case of return above 143.22. The break of 144 will give a new buy signal and should allow the price to test again the resistance at 145.

- Short if 142.37 is broken. A return on 141.50 would be expected at first and a test of 141 in extension.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-26032013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-26032013.png




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#9 ⇑ Haut ⇑ 01-04-2013 08:49:04

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Re: GBP/JPY : End of the uptrend ?

No big changes on the pair GBP/JPY who continues to evolve in our neutral zone between 142.37 and 143.22. The price is currently falling towards the lower limit of the range. An output from the bottom seems more realistic with the formation of a descending triangle (blue line) on the short term.

We stay neutral between 142.37 and 143.22. We advise to wait an exit of this range to take position:

- Long in case of return above 143.22. The break of 144 will give a new buy signal and should allow the price to test again the resistance at 145.

- Short if 142.37 is broken. A return on 141.50 would be expected at first and a test of 141 in extension.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-01042013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-01042013.png




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#10 ⇑ Haut ⇑ 02-04-2013 09:44:30

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Re: GBP/JPY : End of the uptrend ?

A new downward acceleration occurred yesterday on the pair GBP/JPY. The sell signal has been given to us by the break of the lower band of our neutral zone 142.37/143.22. On the medium term, we see that this lower band was the neck line of a head and shoulders pattern (purple segments). The objective of the pattern is at 140. On the short term, 142.37 formed the lower band of our descending triangle (blue line).

We recommend to trade only short positions as far as 143.22 (last high) is resistance. A continuation below 142.37 would reinforce our bearish sentiment. A pullback on this level is not excluded before a take up of the downward movement towards 140 and 139.11 in extension.

In case of return above 143.22, we will be neutral between this level and 144.

GBP/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-02042013-2.png

GBP/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/gbpjpy-02042013.png




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    GBP/JPY : End of the uptrend ?



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