GBPJPY Outlook and Strategy (2010-12-21)
December 22, 2010 9:12 AM EST
The pivotal support areas of 129.40 has been able to stop yesterday's bearishness temporarily since Fibonacci levels of XA leg of the suggested harmonic Gartley pattern meets these levels as seen on the provided daily chart. Some kind of fluctuation is awaited due to facing this support level before resuming the projected bearishness of our captured pattern, which is still forming its CD leg, targeting 128.10. Note that, the consecutive closings below 50% Fibonacci of XA leg may assist the pair to breach 61.8% sooner.
The trading range for today is among key support at 127.60 and key resistance at 133.15.
The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.
Most Popular Slideshows
- Still The World Champions: Team USA Overpowers Serbia, 129-92 To Win 2014 FIBA World Cup [PHOTOS]
- Pope Francis: World War III Has Started On Piecemeal
- After Win Over Maidana, Mayweather Says He Is Prepared To Negotiate A Fight With Pacquiao
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
Join the Conversation
- Pregnant Kate Middleton May Call Off Malta Trip Due To Sickness: Royal Couple Will Move To Anmer Hall Residence
- iPhone 6 Plus vs Xiaomi Mi4 – The iPhone Killer Certainly Can Battle Well With The New Apple Phablet
- Apple iOS 8 Can Trump Google Android 5.0 L Upon September 17 Release
- Ukraine Crisis: Poland Denies Supplying Weapons To Kiev
- Twitter Photo Of British Medical Muslima Student Holding Severed Head
- Google Nexus 8 Release Date Countdown Begins Oct 8: 8 Killer Specs and Features to Expect
- Malaysia Airlines Flight MF 370: Indonesian Police Chief Claims He Knows What Happened To Missing Jet