Forex Technical Analysis of GBPJPY for October 26, 2015 | Forex Signals Market
Sunday, October 25, 2015

Forex Technical Analysis of GBPJPY for October 26, 2015

Support                              -   S1 : 185.398 | S2 : 184.792 | S3 : 184.347
Resistance                          -   R1 : 186.449 | R2 : 186.894 | R3 : 187.500
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

On 4H chart of forex technical analysis for the exchange rate GBPJPY, we observe that price moves above EMA(50) and EMA(200), which are ready to proceed in an upward cross. Is clear that price is at the lower channel of Andrew's Pitchfork.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis

4H Chart


The area 185.400  – 185.795   is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 186.570, 186.750, 187.140, 187.700.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 184.840, 184.450, 184.100, 183.600, 183.300, 182.730.

1H Chart


The area 185.850 – 186.000  is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 186.280, 186.500, 186.750, 187.000.
Forex Technical Analysis

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 185.600, 185.400, 185.200, 185.000, 184.700.

On 4H chart, there is a Bearish Harmonic Pattern: Black Swan.

Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.

You agree with our estimates? If you have another point of view, you can write your opinion in comments.

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