Updated the:
05/18/2012
GBP/JPY Technical Analysis comments :

Sentiment :
sentiment
127.67
sentiment
126.70
sentiment
A bearish rallye occured on the pair GBP/JPY who broke the supports at 127.70/126.70/126, giving all a new sell signal.
Currently, the pair is testing the next support at 125.
The pair is moving below the lower band of its falling wedge (purple lines)/
All indicators are bearish.
We continue to advise short positions as far as 126.70 is resistance.
The breakout of 125 will give a new sell signal and open the way towards 124.
In case of return above 126.70, we will be neutral between this level and 127.67.
The breakout of 127.67 will give a new buy signal.
Complete sheet of the pair GBP/JPY - Previous GBP/JPY Analysis
Chart of the pair GBP/JPY - Timeframe 4H - Zoom in :
GBP/JPY
 
Chart of the pair GBP/JPY - Timeframe 4H - Zoom out:
GBP/JPY
GBP/JPY Live Chart - Timeframe : 4h
Chart