Forex Technical Analysis of GBPJPY for February 01, 2016

Support                              -   S1 : 170.333 | S2 : 168.163 | S3 : 166.247
Resistance                          -   R1 : 174.419 | R2 : 176.335 | R3 : 178.505
Main Trend                       -   Bearish
Intraday Trend                 -   Bullish

Applying all the rules of forex technical analysis for the exchange rate GBPJPY on the 4H chart we observe that the price close between EMA(50) and EMA(200). The price moves within the upper channel of Andrew's Pitchfork and at the same moment has formed an upward channel (black lines).

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 of GBPJPY for January 25, 2016

Support                              -   S1 : 167.572 | S2 : 165.674 | S3 : 164.284
Resistance                          -   R1 : 170.860 | R2 : 172.250 | R3 : 174.148
Main Trend                       -   Bearish
Intraday Trend                 -   Bullish

On 4H chart of forex technical analysis for the exchange rate GBPJPY, we can see that the price finds support at the lower line of Andrew's Pitchfork and proceed to an upward reaction up to 23.6% Fibonacci Retracement. The price closed above EMA(50) and remain within 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 of GBPJPY for January 18, 2016

Support                              -   S1 : 165.193 | S2 : 163.549 | S3 : 160.869
Resistance                          -   R1 : 169.517 | R2 : 172.197 | R3 : 173.841
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

Applying all the rules of forex technical analysis for the exchange rate GBPJPY, we can observe the downward movement all these days and especially on Friday. EMA(50) and EMA(200) have a downward cross between them. The price is moving within the lower channel of Andrew's Pitchfork.
RSI indicator is at the oversold area when at the same moment there is a Bullish Harmonic Pattern.

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 of GBPJPY for January 04, 2016

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:

Forex Technical Analysis of GBPJPY for December 21, 2015

Support                              -   S1 : 179.263 | S2 : 178.069 | S3 : 175.735
Resistance                          -   R1 : 182.791 | R2 : 185.125 | R3 : 186.319
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

The 4H chart of forex technical analysis of the exchange rate GBPJPY can give us very clear the technical view. The price moves within the upper channel of Andrew's Pitchfork and remains below EMA(50) and EMA(200). The exchange rate accepts strong pressure who lead the price at a local double bottom on the daily chart.

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 of GBPJPY for December 14, 2015

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:

Forex Technical Analysis of GBPJPY for December 07, 2015

Support                              -   S1 : 185.354 | S2 : 184.670 | S3 : 184.227
Resistance                          -   R1 : 186.481 | R2 : 186.924 | R3 : 187.608
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

Applying the rules of forex technical analysis and analyzing the 4H chart for the exchange rate GBPJPY easily observe that the price after a triple local bottom proceeds to an upward reaction. Price remain above EMA(50) and EMA(200) and also move within the upper 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 of GBPJPY for November 30, 2015

Support                             -   S1 : 184.168 | S2 : 183.667 | S3 : 183.100

Resistance                         -   R1 : 185.236 | R2 : 185.803 | R3 : 186.304

Main Trend                      -   Bearish

Intraday Trend                -   Bearish

On 4H chart of forex technical analysis for the exchange rate GBPJPY is very clear to notice that the price moves within the upper channel of Andrew's Pitchfork. Also, price remains below EMA(50) and EMA(200) which are ready to proceed to a downward cross.

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 of GBPJPY for November 23, 2015

Support                             -   S1 : 185.951 | S2 : 185.379 | S3 : 184.317
Resistance                         -   R1 : 187.585 | R2 : 188.647 | R3 : 189.219
Main Trend                      -   Bullish
Intraday Trend                -   Bullish

Analyzing the 4H chart of forex technical analysis you can observe that price proceed to a 50% retracement and finally close on Friday between EMA(50) and EMA(200), which have an upward cross between them. The exchange rate moves within an upward channel (black lines) and at the same time at the upper channel of Andrew's Pitchfork (blue lines).

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 of GBPJPY for November 16, 2015

Support                             -   S1 : 186.472 | S2 : 186.119 | S3 : 185.843
Resistance                         -   R1 : 187.101 | R2 : 187.377 | R3 : 187.730
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

On 4H chart of forex technical analysis, we observe that price moves within a channel. EMA(50) and EMA(200) have an upward cross between them. Price moves at the lower channel of Andrew's Pitchfork and above EMA(50) and EMA(200).

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 of GBPJPY for November 09, 2015

Support                             -   S1 : 184.257 | S2 : 183.142 | S3 : 182.365
Resistance                         -   R1 : 186.149 | R2 : 186.926 | R3 : 188.041
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

On 4H chart of forex technical analysis, you can observe that price moves between EMA(50) and EMA(200) which have upward crossed between them. Is very clear that the price moves within a channel. Also moves within 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 of GBPJPY for November 02, 2015

Support                              -   S1 : 184.662 | S2 : 183.303 | S3 : 182.276
Resistance                          -   R1 : 187.048 | R2 : 188.075 | R3 : 189.434
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

The upward reaction of price from a low of 180.692 has led it up the level of 186.700 which is 74,6 retracement. The upward momentum looks strong, having created the conditions for the upside cross between the EMA (50) and EMA (200).
In the 4H chart of forex technical analysis, you may notice that price moves into the lower channel of the Andrews Pitchfork and very close to the median line.

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 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 of GBPJPY for October 19, 2015

Support                              -   S1 : 183.558 | S2 : 182.760 | S3 : 182.178
Resistance                          -   R1 : 184.938 | R2 : 185.520 | R3 : 186.318
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

On 4H chart of forex technical analysis, we observe that EMA(50) and EMA(200) remain with a downward cross. Price moves between EMA(200) and EMA(50). Also, we have to notice that price moves within the lower channel of an upward 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 of GBPJPY for October 12, 2015

Support                             -   S1 : 183.859 | S2 : 183.449 | S3 : 182.955
Resistance                         -   R1 : 184.763 | R2 : 185.257 | R3 : 185.667
Main Trend                      -   Bullish
Intraday Trend                -   Bullish

At 4H chart, we observe the price move between EMA(50) and EMA(200) and also at the lower channel of an upward 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 of GBPJPY for October 05, 2015

Support                            -   S1 : 180.926 | S2 : 179.822 | S3 : 178.997
Resistance                        -   R1 : 182.855 | R2 : 183.680 | R3 : 184.784
Main Trend                     -   Bearish
Intraday Trend               -   Bullish

Financial Announcements: USD - ISM Non-Manufacturing PMI

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 of GBPJPY for September 28, 2015

Support                            -   S1 : 182.160 | S2 : 181.498 | S3 : 180.369

Resistance                        -   R1 : 183.951 | R2 : 185.080 | R3 : 185.742

Main Trend                     -   Bearish

Intraday Trend               -   Bearish

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 of GBPJPY for September 21, 2015

Support                            -   S1 : 185.686 | S2 : 185.089 | S3 : 184.249
Resistance                       -   R1 : 187.123 | R2 : 187.963 | R3 : 188.560
Main Trend                     -   Bullish
Intraday Trend              -   Bearish

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 of GBPJPY for July 13, 2015

Support                            -   S1 : 187.581 | S2 : 184.890 | S3 : 183.292
Resistance                       -   R1 : 191.870 | R2 : 193.468 | R3 : 196.159
Main Trend                     -   Bullish
Intraday Trend              -   Bearish

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 of GBPJPY for July 06, 2015

Support                            -   S1 : 190.593 | S2 : 189.910 | S3 : 188.950
Resistance                       -   R1 : 192.236 | R2 : 193.196 | R3 : 193.879
Main Trend                     -   Bearish
Intraday Trend              -   Bearish

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: