Tuesday, 1 September 2015

GBP/JPY Technical Analysis for Today

Technical Analysis :
GBP/JPY is having sideways secondary trend  on charts. In its hourly chart, the pair is not sustaining at higher levels and consolidating with strong negative bias to give break out at downside. Its 30 and 200 DMA are also supporting the upcoming bearish trend in the pair. It is facing an important support at the level of 185.30. If it breaks its support level at downside then we can expect it show further bearish movement in the pair.

MACD is sustaining in selling territory indicating the upcoming bearish trend in the pair.

GBP/JPY Technical Analysis

Trading Strategy: GBP/JPY is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.