GBP/JPY Technical Analysis (British Pound / Yen) - Forex
International Business Times
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February 16, 2013 1:55 AM EST

Forextribe
Updated the:
02/15/2013		 GBP/JPY : Resumption of the uptrend

Sentiment :
sentiment sur la parité AUD/USD
145
sentiment sur la parité AUD/USD
142
sentiment sur la parité AUD/USD

--- Follow up analysis ---
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.
Full analysis

Analysis published by Bruno, the 02/15/2013 at 8h50 GMT+2
- Complete sheet of the pair GBP/JPY - Previous GBP/JPY Analysis -
Chart of the pair GBP/JPY - Timeframe 1H
GBP/JPY Technical Analysis
Chart of the pair GBP/JPY - Timeframe 4H
GBP/JPY Technical Analysis
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