FXGLORY
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Technical analysis of GBP/JPY dated 05.07.2013
As we told in last GBP/JPY analysis , according to down trend signs figure showed , Price has a potential to act as a bear trend and acted. Sellers catch lowest price 146.917 through this trend. Price touched inverse line and support area , so configure a stable support zone and shown some signs to act as bullish. As shown in figure , price trapped in bullish channel and after breaking Support line that touched 5 times already , there will be a clear alarm to change trend to bearish.
Already a Gartley harmonic pattern figured that with completing D spot , Alarms will be ringing for bearish trends. Stoch indicator is also approved this D spot with locating in buy saturating zone and alarmed bearish trend in further candles.Based on current chart , there is a probability for bearish candles , First notice for starting Bullish trend will be came out after punching D spot in 153.006 level.
FxGlory
2013.07.05
As we told in last GBP/JPY analysis , according to down trend signs figure showed , Price has a potential to act as a bear trend and acted. Sellers catch lowest price 146.917 through this trend. Price touched inverse line and support area , so configure a stable support zone and shown some signs to act as bullish. As shown in figure , price trapped in bullish channel and after breaking Support line that touched 5 times already , there will be a clear alarm to change trend to bearish.
Already a Gartley harmonic pattern figured that with completing D spot , Alarms will be ringing for bearish trends. Stoch indicator is also approved this D spot with locating in buy saturating zone and alarmed bearish trend in further candles.Based on current chart , there is a probability for bearish candles , First notice for starting Bullish trend will be came out after punching D spot in 153.006 level.
FxGlory
2013.07.05