GBPJPY - Technical Analysis and Trading Strategy
January 1, 2011 9:25 AM EST
The pair achieved a very important closing below 100% Fibonacci of XA leg, which is another negative indication that confirmed resuming the CD leg of our efficient crab harmonic pattern as seen on the provided daily chart. Although Stochastic is moving inside oversold areas but it overlapped bearishly, whilst ARRON is still negative. Thereby, we still see chances for achieving additional bearishness towards the PRZ of the pattern at 124.35. The broken support areas-current resistance- at 126.40 might be retested.
The trading range for today is among key support at 121.95 and key resistance at 128.25.
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
- Angelina Jolie & Brad Pitt Heads to Malta For New Movie After A Whirlwind French Wedding [PHOTOS]
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Chris Martin Getting Serious With Jennifer Lawrence, Actress Joining Coldplay Tour [PHOTOS]
Join the Conversation
- Apple iPhone 6 Actual Release Date after September 9 Confirmed 128GB Variant with New Resolution
- Moto G2 Release Roundup: Specs, Pricing, and Release Date Details
- PlayStation 4 Killing Xbox One Costing Microsoft Millions But It's Fine
- Nexus 6 on Release Date Confirmed with Phablet-Size Display as FCC Filing Hints of 5.9-Inch Screen