GBP/JPY : Exit of the bearish channel validated
--- New analysis ---
All last week, the pair GBP/JPY has rebounded to test the resistance at 127.60, getting back into its medium term bullish channel (black lines) but the return below 127 gave us a new sell signal. The price is now moving below the lower band of the channel.
We advise to trade only short positions as far as 127 is resistance. We target a return on 125.50 and a test of the psychological level at 125 in extension.
In case of return above 127, we will be neutral between this level and 127.60.
Analysis published by Bruno, the 10/08/2012 at 9h30 GMT+2
Chart of the pair GBP/JPY - Timeframe 4H
Chart of the pair GBP/JPY - Timeframe 1H
|GBP/JPY Live Chart - Timeframe : 4h|
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