{"id":14452,"date":"2010-10-25T09:14:07","date_gmt":"2010-10-25T13:14:07","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=14452"},"modified":"2010-10-25T09:14:07","modified_gmt":"2010-10-25T13:14:07","slug":"gbpjpy-makes-an-attempt-to-break-higher","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/25\/gbpjpy-makes-an-attempt-to-break-higher\/","title":{"rendered":"GBP\/JPY Makes an Attempt to Break Higher"},"content":{"rendered":"<p><strong>By Rita Ruvinski <\/strong>&#8211; Over  the last month, the British poundhas been steadily losing ground to the  Japanese yen. \u200eThe yen, widely considered to be a safe-haven currency,  has been making gains across the \u200eboard as investors continue to shy  away from risk taking. Since September 16th, the \u200eGBP\/JPY pair has gone  down over 200 pips. As we will demonstrate through a number \u200eof  technical indicators, the pair may be due for an upward correction.\u200e<\/p>\n<p>We will be looking at the daily chart for GBP\/JPY cross. The technical  indicators we will \u200euse are the, Bollinger Bands, Stochastic Slow and  the Relative Strength Index (RSI).\u200e<\/p>\n<p>Point 1: Traders will notice the bullish cross formed below the support  line on the \u200eStochastic Slow. Typically when a cross, such as the one  shown here forms, an upward \u200ecorrection takes place.\u200e<\/p>\n<p>Point 2: Finally, in what may be our strongest signal yet of an  impending bullish move, \u200ethe RSI is floating in oversold territory, and  has been for some time. Traders can take this \u200eas a sign that the pair  will see an upward correction in the very near future.\u200e<\/p>\n<p>Point 3: The pair is currently trading along the lower band, indicating  that an upward \u200ecorrection is due to take place. Furthermore, the  Bollinger Bands are beginning to widen, \u200espreading farther apart. This  typically means that a price shift is likely to take place.\u200e<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/gbp3.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/gbp3.JPG\" alt=\"\" width=\"446\" height=\"683\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/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 Rita Ruvinski &#8211; Over the last month, the British poundhas been steadily losing ground to the Japanese yen. \u200eThe yen, widely considered to be a safe-haven currency, has been making gains across the \u200eboard as investors continue to shy away from risk taking. Since September 16th, the \u200eGBP\/JPY pair has gone down over 200 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/10\/25\/gbpjpy-makes-an-attempt-to-break-higher\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/JPY Makes an Attempt to Break Higher&#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-14452","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14452","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=14452"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14452\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=14452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=14452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=14452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}