GBP/JPY : Looking for a clear trend
--- Follow up analysis ---
The bullish trend seems to take up and the pair GBP/JPY got out of its neutral range 126.09/127 from the top, giving us a buy signal. Then, the price made a pullback on the lower band of the former medium term bullish channel (black lines).
We continue to advise long positions as far as 126.83 is support. The price could find support on its short term bullish slant (purple line) who is currently tested. A return above 127.75 will comfort our bullish feeling and the breakout of 128.25 will allow the price to reach the high of September 19th.
In case of return below 126.83, we will be neutral between this level and 126.09.
Analysis published by Bruno, the 10/19/2012 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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