Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

GBP/JPY Classical Technical Report 05.04

By Joel Kruger, Technical Strategist
04 May 2012 07:26 GMT
Daily_Classical_GBPJPY_body_gbp.png, GBP/JPY Classical Technical Report 05.04

GBP/JPY: The corrective pullback from the March 133.50 highs looks to have finally found solid support in the 127.00 area and from here we look for the formation of a medium-term higher low in favor of the next upside extension, eventually back above 133.50. Ultimately, only a weekly close below 127.00 would negate and give reason for concern.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

04 May 2012 07:26 GMT