Support - S1 : 183.462 | S2 : 182.761 | S3 : 181.967
Resistance - R1 : 184.957 | R2 : 185.751 | R3 : 186.452
Main Trend - Bearish
Intraday Trend - Bearish
Analyzing the 4H chart of forex technical analysis for the exchange rate GBPJPY we can observe that the price remains below EMA(50) and EMA(200), and at the same time moves within the upper channel of Andrew's Pitchfork. Also, we have to notice that there is a possibility price action to form a triangular formation.
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:
The area 184.194 – 184.604 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 185.000, 185.400, 185.770, 186.000, 186.338, 186.789.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 183.732, 183.348, 182.958, 182.680, 182.400, 182.000.
The area 183.924 – 184.127 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 184.400, 184.600, 184.860, 185.000, 185.250, 185.500, 185.750.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 183.600, 183.350, 183.000, 182.500, 182.000.
There is a Bullish Harmonic Pattern on 4H chart: Henry.
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.
You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
Resistance - R1 : 184.957 | R2 : 185.751 | R3 : 186.452
Main Trend - Bearish
Intraday Trend - Bearish
Analyzing the 4H chart of forex technical analysis for the exchange rate GBPJPY we can observe that the price remains below EMA(50) and EMA(200), and at the same time moves within the upper channel of Andrew's Pitchfork. Also, we have to notice that there is a possibility price action to form a triangular formation.
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:
4H Chart
The area 184.194 – 184.604 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 185.000, 185.400, 185.770, 186.000, 186.338, 186.789.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 183.732, 183.348, 182.958, 182.680, 182.400, 182.000.
1H Chart
The area 183.924 – 184.127 is a neutral zone.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 183.600, 183.350, 183.000, 182.500, 182.000.
There is a Bullish Harmonic Pattern on 4H chart: Henry.
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.
You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
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