Updated the:
06/11/2012
GBP/JPY Technical Analysis comments :
Sentiment :
sentiment
121.86
sentiment
121.86
sentiment
The pair GBP/JPY made a pullback last friday on the support at 121.86 (level 23.60% of fibonacci retracements) and has opened the week a bullish gap (not filled in).
Currently, the pair is testing the resistance at 123.75 (level 38.20%) and also the lower band of its falling wedge (purple lines).
All indicators are bullish.
We continue to advise long positions as far as 121.86 (level 23.60% of fibonacci retracements) is support.
The breakout of 124.34 will give a new buy signal and open the way towards 125.28 (level 50%).
In case of return below 121.86, a sell signal will be given.
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