Updated the:
06/18/2012
GBP/JPY Technical Analysis comments :
Sentiment :
sentiment
122.58
sentiment
121.86
sentiment
The pair GBP/JPY has opened the week on a bullish gap, allowing the price to exit its bearish channel (black lines) and broke the resistance at 123.34 (new buy signal).
All indicators are bullish.
We continue to advise long positions as far as 122.58 is support.
The breakout of 125.28 (level 50%) will give a new buy signal and open the way towards 126.81 (level 61.80%).
In case of return below 122.58, we will wait the breakout of 121.86 to advise short positions.
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