GBP/JPY Intra-Day Technical Analysis - bullish reversal or the primary bearish with possible breakdown
by
, 05-03-2016 at 04:23 PM (1894 Views)
H4 price is located near SMA with period 100 (100-SMA) and SMA with the period 200 (200-SMA) waiting for the direction for the possible breakout or breakdown.
- If the price will break 158.55 resistance level so we may see the bullish trend to be started on this timeframe.
- If price will break 153.37 support so the ranging bearish trend will be turned to the primary bearish with possible breakdown.
- If not so the price will be ranging within the levels.
Resistance Support 153.37 158.55 162.80 151.63
- Recommendation to go short: watch the price to break 153.37 support level for possible sell trade
- Recommendation to go long: watch the price to break 158.55 resistance level for possible buy trade
- Trading Summary: ranging
SUMMARY : ranging
TREND : waiting for direction