Support - S1 : 176.583 | S2 : 175.996 | S3 : 174.937
Resistance - R1 : 178.229 | R2 : 179.288 | R3 : 179.875
Main Trend - Bearish
Intraday Trend - Bearish
Applying forex technical analysis rules on the 4H chart for the exchange rate GBPJPY, we locate price to move within the upper channel of Andrew's Pitchfork at 141.4 Fibonacci expansion.
EMA(50) and EMA(200) have a downward cross between them.
The price remains below both of them.
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 177.898 – 178.389 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 179.000, 179.500, 179.900, 180.450, 181.150, 181.500, 182.000.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 176.400, 176.000, 175.300, 174.800, 174.200.
The area 177.556 – 177.920 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 178.250, 178.400, 178.700, 179.000, 179.200, 179.500.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 176.850, 176.600, 176.150, 175.700.
There is a Bullish Harmonic Pattern on 4H chart: 1.618xAB=CD.
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 : 178.229 | R2 : 179.288 | R3 : 179.875
Main Trend - Bearish
Intraday Trend - Bearish
Applying forex technical analysis rules on the 4H chart for the exchange rate GBPJPY, we locate price to move within the upper channel of Andrew's Pitchfork at 141.4 Fibonacci expansion.
EMA(50) and EMA(200) have a downward cross between them.
The price remains below both of them.
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 177.898 – 178.389 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 179.000, 179.500, 179.900, 180.450, 181.150, 181.500, 182.000.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 176.400, 176.000, 175.300, 174.800, 174.200.
1H Chart
The area 177.556 – 177.920 is a neutral zone.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 176.850, 176.600, 176.150, 175.700.
There is a Bullish Harmonic Pattern on 4H chart: 1.618xAB=CD.
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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