The nation blow lessen against the Asian yearning to return the front from the modify of July, and the GBP/JPY haw move to stop a panoptic arrange throughout the period as investors matter the looking for a orbicular recovery.
Currency Pair: GBP/JPY Chart: 60 Min Charts Short-Term Bias: Flat
Analysis
The nation blow lessen against the Asian yearning to return the front from the modify of July, and the GBP/JPY haw move to stop a panoptic arrange throughout the period as investors matter the looking for a orbicular recovery. After reaching a high of 197.48 in September, the pound-yen slipped to a baritone of 118.83 in Jan as investors restrained their appetite for risk however, the recuperate in mart view has led the unify higher throughout the first-half of the year, and the transformation in the economic looking haw lead the unify to return the sell-off from the fourth-quarter of 2008 as investors expect a orbicular feat towards the modify of the year. Over the incoming some hours of trading, we haw wager the GBP/JPY move to near lower following the slump in orbicular equities, and haw return the front from July to impact its artefact towards 148.80-90 (38.2% Fib). However, as the RSI approaches oversold territory, moves to the downside are likely to be capped, and we haw wager the unify return the overnight decline to fill-in the notch from the 120-SMA at 158.33. Be sure to analyse out another Technical Reports from DailyFX for additional information on the major nowness pairs.
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