empty
 
 
12.07.2017 05:01 PM
Daily analysis of GBP/JPY for July 12, 2017

This image is no longer relevant

Overview

The GBP/JPY pair was affected by the strength of 147.65 barrier. The pair has to be forced to make correctional bearish trading from the initial support around 145.20.The intraday downward trading is caused by a stochastic sharp decline. Besides, approaching from the oversold areas increases the chances of moving towards the moving average 55, located now at 142.60. These factors allow us to suggest the intraday downward trading and wait until the correctional targets. However, we should note that the price attempt to rally above the main barrier at 147.65 will confirm the bullish bias and open the way to rally towards 149.40 followed by moving towards 38.2% Fibonacci correction level at 150.95. The expected trading range for today is between 146.70 and 142.60

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback