|GBP/JPY - Take up of the bearish trend?|
|Since the 1st of June, the pair GBP/JPY was moving into a bullish channel (brown lines) but last friday, the price got out of this channel from the bottom, giving a sell signal. This sell signal has been reinforced by the breakout of the fibonacci retracement 38.20% at 123.75.|
We expect a take up of the bearish trend on the next days. The support at 121.86 (level 23.60%) should be reached. In h1, a bearish slant (black line) comfort this scenario.
In case of return above 124.50, we will be neutral between this level and 125.28 (level 50%).
Analysis published by Bruno, the 07/09/2012 at 09h30 GMT+2
|Complete sheet of the pair GBP/JPY - Previous GBP/JPY Analysis|
Chart of the pair GBP/JPY - Timeframe 4H
Chart of the pair GBP/JPY - Timeframe 1H
GBP/JPY Live Chart - Timeframe : 4h