{"id":11795,"date":"2010-08-06T09:30:23","date_gmt":"2010-08-06T13:30:23","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11795"},"modified":"2010-08-06T09:30:23","modified_gmt":"2010-08-06T13:30:23","slug":"flag-pattern-indicates-gbpjpy-might-rise-further","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/06\/flag-pattern-indicates-gbpjpy-might-rise-further\/","title":{"rendered":"Flag Pattern Indicates GBP\/JPY Might Rise Further"},"content":{"rendered":"<p><strong>By Yan Petters<\/strong> &#8211; The  GBP\/JPY pair saw a sharp bullish movement during the past couple of  weeks. Over this time period the pair gained over 700 pips, and soared  from the 131.00 level to the 137.50 level. Currently, the pair is  trading near to the 136.80 level, yet as several technical indicators  show, another bullish movement could be impending.<\/p>\n<p>\u2022 The chart below is the GBP\/JPY 4-hour chart.<br \/>\n\u2022 The technical indicators used are the <a href=\"http:\/\/www.forexyard.com\/en\/bollinger-bands\">Bollinger Bands<\/a>, the <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Slow Stochastic<\/a>, the <a href=\"http:\/\/www.forexyard.com\/en\/moving-average-convergence-divergence-macd\">MACD<\/a> and the <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">Relative Strength Index<\/a> (RSI).<br \/>\n\u2022 As demonstrated on the chart, a flag pattern has been formed. This indicates that further bullishness could be expected.<br \/>\n\u2022 The <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Slow Stochastic <\/a>has completed a bullish cross, indicating that the bullish move might be imminent.<br \/>\n\u2022 The <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI<\/a> is pointing upwards, providing yet another signal that the pair might be boosted soon.<br \/>\n\u2022  The next resistance levels are placed at the 137.50 and the 138.00 levels.<br \/>\n\u2022 The next support levels are placed at the 136.50 and the 135.80 levels.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/gbp-jpy.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/gbp-jpy.bmp\" alt=\"\" width=\"595\" height=\"572\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by<span style=\"text-decoration: underline;\"> <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/span><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                          may not be suitable for all        investors.       There    is  a              possibility      that            you   could       sustain a  loss   of  all   of    your                investment and            therefore  you        should   not      invest        money  that   you            cannot afford to           lose. You         should    be      aware of     all       the    risks         associated     with     Foreign       Exchange        trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Yan Petters &#8211; The GBP\/JPY pair saw a sharp bullish movement during the past couple of weeks. Over this time period the pair gained over 700 pips, and soared from the 131.00 level to the 137.50 level. Currently, the pair is trading near to the 136.80 level, yet as several technical indicators show, another &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/06\/flag-pattern-indicates-gbpjpy-might-rise-further\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Flag Pattern Indicates GBP\/JPY Might Rise Further&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11795","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=11795"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11795\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}