FxGrow Support
Recruit
- Messages
- 58
FxGrow Daily Technical Analysis – 31st Aug, 2015
By FxGrow Research & Analysis Team
GBPJPY - completed a simple correction and resumption of the main trend
In a longterm on GBPJPY there is an upward trend, and last drop that started in June closer to the end. Length CD last move downward (which began on 18 August from 195.26) is equal length AB (visible on the daily chart). If last week's bottom wouldn't be break in the coming days, we may see a new move upward. Alternatively break this level could bring price to 177.80 or 161.8% fibo AB.
H1 Time-frame
At the H1 interval upward channel formed, in which the price moves for four days. After the last drop, the channel looks like a flag. It prefer a scenario that I described above as an alternative. Descent to the level of 177.80, and return to growth.
For more in depth Research & Analysis please visit FxGrow.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
By FxGrow Research & Analysis Team
GBPJPY - completed a simple correction and resumption of the main trend
In a longterm on GBPJPY there is an upward trend, and last drop that started in June closer to the end. Length CD last move downward (which began on 18 August from 195.26) is equal length AB (visible on the daily chart). If last week's bottom wouldn't be break in the coming days, we may see a new move upward. Alternatively break this level could bring price to 177.80 or 161.8% fibo AB.
H1 Time-frame
At the H1 interval upward channel formed, in which the price moves for four days. After the last drop, the channel looks like a flag. It prefer a scenario that I described above as an alternative. Descent to the level of 177.80, and return to growth.
For more in depth Research & Analysis please visit FxGrow.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.