http://www.fxtimes.com Get your daily dose of Forex news from the expert analysts at FXTimes. Visitors will have access to the Forex Capsule, our interactive economic calendar, our video recaps, and up-to-date fundamental news releases and technical analysis commentaries. Tue, 07 Feb 2012 08:00:41 +0000 en hourly 1 http://wordpress.org/?v=3.1 http://www.fxtimes.com/technical-updates/gbpjpy-in-a-minor-double-top-attempt-with-room-for-further-upside/ http://www.fxtimes.com/technical-updates/gbpjpy-in-a-minor-double-top-attempt-with-room-for-further-upside/#comments Fri, 20 Jan 2012 13:17:41 +0000 Fan Yang http://www.fxtimes.com/?p=64667 http://www.fxtimes.com/technical-updates/gbpjpy-in-a-minor-double-top-attempt-with-room-for-further-upside/feed/ 0 The GBP/JPY failed to follow through bearish signals and instead found support at 117.26 for so far just a short-term rally. However it has run a bit overbought as price trades near the upper bollinger band (3 standard deviations from the 200 hour simple moving average). Also, there is a bearish divergence with the RSI. Overall market action can also be seen as a double top attempt... http://www.fxtimes.com/technical-updates/gbpusd-and-gbpjpy-signal-bearish-continuation-with-flag-and-wedge-breakouts/ http://www.fxtimes.com/technical-updates/gbpusd-and-gbpjpy-signal-bearish-continuation-with-flag-and-wedge-breakouts/#comments Wed, 11 Jan 2012 11:28:44 +0000 Fan Yang http://www.fxtimes.com/?p=63996 http://www.fxtimes.com/technical-updates/gbpusd-and-gbpjpy-signal-bearish-continuation-with-flag-and-wedge-breakouts/feed/ 0 The 1H GBP/USD chart shows a market that is breaking out below a flag pattern. The market has been bearish in the short-term trading under the 200 hour simple moving average, with the RSI dipping below 30 and now failing to sustain a break above 60. A return below 40 suggests a return of the bearish momentum. Respect of a declining resistance also shows lack of bullish intent to extend the flag pattern... http://www.fxtimes.com/technical-updates/gbpjpy-levels-and-scenarios-in-a-bearish-market/ http://www.fxtimes.com/technical-updates/gbpjpy-levels-and-scenarios-in-a-bearish-market/#comments Mon, 09 Jan 2012 14:55:44 +0000 Fan Yang http://www.fxtimes.com/?p=63795 http://www.fxtimes.com/technical-updates/gbpjpy-levels-and-scenarios-in-a-bearish-market/feed/ 0 The 4H GBP/JPY chart shows a market attempting to bottom in the short-term for a bullish correction, although price action does not suggest so yet. There is a bullish divergence with the RSI, but a correction should break a pivot near 119.20 before looking for the next pivot near 120.50. The bearish outlook remains, unless there is a push above the 200 4H SMA and the 121.04... http://www.fxtimes.com/technical-updates/gbpjpy-due-for-a-throwback-after-recent-bullish-breakout/ http://www.fxtimes.com/technical-updates/gbpjpy-due-for-a-throwback-after-recent-bullish-breakout/#comments Wed, 21 Dec 2011 17:24:26 +0000 Fan Yang http://www.fxtimes.com/?p=62697 http://www.fxtimes.com/technical-updates/gbpjpy-due-for-a-throwback-after-recent-bullish-breakout/feed/ 0 The 4H GBP/JPY chart shows a market that is breaking into a bullish mode. After failure to break below 61.8% retracement, price action rallied sharply above a projected channel resistance and the 200 4H simple moving average. There was also a strong push above the 200SMA after stalling there for a brief period. The RSI reading managed to stay above 40 after tagging 70... http://www.fxtimes.com/technical-updates/gbpjpy-outlook-for-a-break-above-resistance-cluster-under-121-20/ http://www.fxtimes.com/technical-updates/gbpjpy-outlook-for-a-break-above-resistance-cluster-under-121-20/#comments Tue, 20 Dec 2011 03:48:37 +0000 Fan Yang http://www.fxtimes.com/?p=62539 http://www.fxtimes.com/technical-updates/gbpjpy-outlook-for-a-break-above-resistance-cluster-under-121-20/feed/ 1 The GBP/JPY failed to follow through with the break below the 61.8% retracement (of the 119.36-122.65 swing, Nov. 24-Dec. 2) consolidated in a sideways market. The support is not very clear but is seen around 120.50. The resistance has been flat at about 121.14. Now the market is testing as resistance for the 3rd time since tagging 61.8%, but this time the 200 hour simple moving average has caught up... http://www.fxtimes.com/technical-updates/gbpjpy-slides-below-61-8-retracement-a-look-at-downside-targets/ http://www.fxtimes.com/technical-updates/gbpjpy-slides-below-61-8-retracement-a-look-at-downside-targets/#comments Wed, 14 Dec 2011 16:13:58 +0000 Fan Yang http://www.fxtimes.com/?p=62092 http://www.fxtimes.com/technical-updates/gbpjpy-slides-below-61-8-retracement-a-look-at-downside-targets/feed/ 0 The 4H GBP/JPY chart shows a market that is falling below the 61.8% retracement of the corrective swing from 119.37 to 122.65, where the 200 period simple moving average held as resistance. Although the RSI pushed above 70 to establish short-term bullish momentum, it is now falling below 40 reflecting a loss of that. In the very short-term the next important support level is probably back at the 119.37 low... http://www.fxtimes.com/technical-updates/gbpusd-and-gbpjpy-in-throwback-after-upside-breakout/ http://www.fxtimes.com/technical-updates/gbpusd-and-gbpjpy-in-throwback-after-upside-breakout/#comments Wed, 07 Dec 2011 16:04:37 +0000 Fan Yang http://www.fxtimes.com/?p=61442 http://www.fxtimes.com/technical-updates/gbpusd-and-gbpjpy-in-throwback-after-upside-breakout/feed/ 1 The Bank of England meeting to decide on interest rate policy is on tap for Thursday, 12/8 at 7:00AM EST (12:00GMT). As we start the 12/7 US session, there is bit of a spike upwards for the sterling. The 1H GBP/USD chart is seen to maintain bullish momentum (RSI held above 40 tagging 70 again). Price action stayed mostly above the 200 hour simple moving average and... http://www.fxtimes.com/technical-updates/gbpjpy-in-pullback-after-breaking-below-rising-support/ http://www.fxtimes.com/technical-updates/gbpjpy-in-pullback-after-breaking-below-rising-support/#comments Mon, 05 Dec 2011 01:10:06 +0000 Fan Yang http://www.fxtimes.com/?p=61034 http://www.fxtimes.com/technical-updates/gbpjpy-in-pullback-after-breaking-below-rising-support/feed/ 0 The GBP/JPY was at an important resistance in the 122.30-122.50 area, and fell on 12/2 after failing to break above. The 4H chart below shows that this is 23.6% retracement and 200 period simple moving average. In the 1H chart however, the market is trading above the 200H SMA. However, the bullish momentum is killed after the RSI broke below 40... http://www.fxtimes.com/technical-updates/gbpjpy-at-the-crossroad-after-anchoring-out-of-channel/ http://www.fxtimes.com/technical-updates/gbpjpy-at-the-crossroad-after-anchoring-out-of-channel/#comments Thu, 01 Dec 2011 14:12:04 +0000 Fan Yang http://www.fxtimes.com/?p=60784 http://www.fxtimes.com/technical-updates/gbpjpy-at-the-crossroad-after-anchoring-out-of-channel/feed/ 0 The GBP/JPY is following through with the channel breakout, and has anchored into a rising channel. The RSI is tagging 70, establishing bullish momentum in the 4H chart. The pair is not at the crossroad, with bullish momentum but at a resistance by the 200 period simple moving average and the 38.2% retracement level, all around 122.40... http://www.fxtimes.com/technical-updates/gbpjpy-following-through-wedge-breakout-to-the-upside-resistance-seen-at-122-40/ http://www.fxtimes.com/technical-updates/gbpjpy-following-through-wedge-breakout-to-the-upside-resistance-seen-at-122-40/#comments Tue, 29 Nov 2011 12:49:08 +0000 Fan Yang http://www.fxtimes.com/?p=60428 http://www.fxtimes.com/technical-updates/gbpjpy-following-through-wedge-breakout-to-the-upside-resistance-seen-at-122-40/feed/ 0 The Japanese yen was weak during this week's bout of risk appetite so far. The GBP/JPY broke above a declining wedge to start the week, and is following through during the European session after a pause in the 11/29 Asian session. The RSI also pushed above 60 and is staying above and nearing 70, reflecting a loss of bearish momentum...