country flagالعربية

GBP/JPY Daily Technical Analysis | 8 February 2018

2018-02-08 12:51 am | Resource: Technical Analysis | No Views : 336

Time frame Used - four hours
The GBP / JPY is moving in a sideway in the near-term
The purchasing power managed to control the GBP / JPY to bounce back from level of  151.15 to 153.10 level  and then started to decline down under selling pressure to reach 151.15 again forming a technical pattern (double  bottom)
And looking at the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators near the oversold area
Accordingly, we expect the GBP / JPY to rebound in a corrective move to test the 153.10 level, which breached above will target the level of 154.49
 The alternative scenario is to break the GBP / JPY level of  151.15 to target 149.20 level
 Resistance: 153.10 - 154.49 - 155.88
Support: 151.98 - 151.15 - 150.20
 Direction: sideway

Technical Analysis

Forex Analysis

Other news

Dollar rises against major currencies after attacks on Aramco

  The dollar rose against the major currencies with the opening of the weekly markets on Monday after attacks by the Houthis on Saudi Aramco, which caused severe damage and raised levels of global concern Trump calls for federal stimulus amid jump in oil prices US President Donald Trump said on Monday that high oil prices and economic data from China point to the need for US stimulus. He blamed…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.