Updated the:
06/21/2012
GBP/JPY Technical Analysis comments :
Sentiment :
sentiment
123.40
sentiment
122.58
sentiment
The pair GBP/JPY took up yesterday its bullish movement and the breakout of 124.34 gave us a new buy signal.
Currently, the pair is testing the next resistance at 125.28 (level 50% of fibonacci retracements).
The last low allowed us to draw a bullish slant (purple line).
All indicators are bullish.
We continue to advise long positions as far as 123.40 is support.
The breakout of 125.28 will give a new buy signal and open the way towards 126.81 (level 61.80%).
In case of return below 123.40, we will wait the breakout of 122.58 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