We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Bearish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Oil - US Crude
Bearish
Bitcoin
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/1:00 AM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/Uz8Rh15shU
  • Declines in the MSCI #EmergingMarkets Index have led prices to close under what appears to be a near-term rising support line from early October after a Shooting Star candle. Further weakness may place 42.35 in focus before testing rising support from the August low https://t.co/1ms8cHXLMo
  • 🇯🇵 JPY Loans & Discounts Corp (YoY) (SEP), Actual: 1.90% Expected: N/A Previous: 2.44% https://www.dailyfx.com/economic-calendar#2019-11-12
  • Heads Up:🇯🇵 JPY Loans & Discounts Corp (YoY) (SEP) due at 23:50 GMT (15min), Actual: N/A Expected: N/A Previous: 2.44% https://www.dailyfx.com/economic-calendar#2019-11-12
  • 🇦🇺 AUD Westpac Consumer Confidence (NOV), Actual: 4.5% Expected: N/A Previous: -5.5% https://www.dailyfx.com/economic-calendar#2019-11-12
  • RT @politico: Congress has pegged Dec. 20 as the next deadline for government funding after the current stopgap expires next week https://…
  • @ZabelinDimitri Not to mention that negative RSI divergence and an Evening Star candlestick pattern on the 4-hour chart in #SP500 futures are looking very ominous https://t.co/cAL2Gz2stJ
  • (Asia Pacific AM Briefing) Yen May Rise, USD/JPY Reversal Ahead After Trump Trade Talk? $USDJPY #Yen #tradewars - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/11/12/Yen-May-Fall-USDJPY-Reversal-Ahead-After-Trump-Trade-Talk.html https://t.co/5nQ73RKQ6S
  • Heads Up:🇦🇺 AUD Westpac Consumer Confidence (NOV) due at 23:30 GMT (15min), Actual: N/A Expected: N/A Previous: -5.5% https://www.dailyfx.com/economic-calendar#2019-11-12
  • $USDJPY Daily Pivot Points: S3: 108.59 S2: 108.81 S1: 108.93 R1: 109.14 R2: 109.23 R3: 109.45 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
GBP/JPY Classical Technical Report 05.26

GBP/JPY Classical Technical Report 05.26

2011-05-26 05:39:00
Joel Kruger, Technical Strategist
Share:
GBPJPY_CLassical_body_gbpjpy2.png, GBP/JPY Classical Technical Report 05.26

GBP/JPY:Bearish price action over past few days certainly does a good job of compromising our constructive outlook. However, despite the market closing below the 100 and 200-Day SMAs, any setbacks below have been limited, and we prefer to give some more time before making any decisions with regard to trend shift. Instead, look for the cross to establish back above the longer-term SMAs ahead of the next major upside extension back towards 140.00. Ultimately, only a daily close back below 129.00 would negate and give reason for concern.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

If you wish to receive Joel's reports in a more timely fashion, e-mail jskruger@dailyfx.com and you will be added to the "distribution" list.

If you wish to discuss this topic or any other feel free to visit our Forum page

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.