04.05.201513:13 Forex Analysis & Reviews: Technical analysis of GBP/JPY for May 04, 2015

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Fundamental outlook:
GBP/JPY is expected to consolidate with bearish bias as markets await the BOJ monetary policy decision. GBP/JPY is undermined by the reduced investor risk appetite and Japan's exports. But GBP/JPY downside is limited by the demand from the Japanese importers.

Technical comment:
The daily chart is still positive-biased as the MACD and stochastics are bullish, although the latter one is at overbought levels. Five-day moving average is above 15-day moving average and is advancing.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 180.75. A break of that target will move the pair further downwards to 180. The pivot point stands at 182.40. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 183 and the second target at 184.50

Resistance levels:
183
184.50
185

Support levels:
180.75
180
179.35

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.