{"id":15452,"date":"2010-11-16T08:40:45","date_gmt":"2010-11-16T13:40:45","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=15452"},"modified":"2010-11-16T08:40:45","modified_gmt":"2010-11-16T13:40:45","slug":"gbpjpy-looks-to-correct-gains","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/16\/gbpjpy-looks-to-correct-gains\/","title":{"rendered":"GBP\/JPY Looks to Correct Gains"},"content":{"rendered":"<p><strong>By Yan Petters<\/strong> &#8211; The GBP\/JPY pair recently saw an extraordinary bullish trend, gaining  almost 700 pips and peaking at the 133.77 level. However, the pair saw  several failed attempts to reach to the 134.00 level, and a bearish  correction appears to be imminent.<\/p>\n<p>\u2022 The chart below is the GBP\/JPY 8-hour chart by ForexYard.<br \/>\n\u2022 There is a very notable bullish trend line, which took off at October  27, and has peaked on November 12, at the level of 133.77.<br \/>\n\u2022 However, the pair saw about 4 failed attempts to cross the 133.80 level, indicating that the bullish pressure is losing steam.<br \/>\n\u2022 Currently, a bearish cross has been forming on the Slow <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic<\/a>, suggesting that a bearish move might be impending.<br \/>\n\u2022 In addition, the <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI<\/a> is now pointing down, also indicating that a bearish move could be  imminent. If the RSI will fall below the 70-line it might validate the  bearish correction.<br \/>\n\u2022 The next <a href=\"http:\/\/www.forexyard.com\/en\/price-support-levels\">support levels<\/a> are located at 132.85, 131.90 and 130.95<br \/>\n\u2022 The next <a href=\"http:\/\/www.forexyard.com\/en\/price-resistance-levels\">resistant levels<\/a> are located at 133.80 and 135.00<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/GBPJPY.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/GBPJPY.bmp\" alt=\"\" width=\"590\" height=\"603\" \/><\/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 Yan Petters &#8211; The GBP\/JPY pair recently saw an extraordinary bullish trend, gaining almost 700 pips and peaking at the 133.77 level. However, the pair saw several failed attempts to reach to the 134.00 level, and a bearish correction appears to be imminent. \u2022 The chart below is the GBP\/JPY 8-hour chart by ForexYard. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/11\/16\/gbpjpy-looks-to-correct-gains\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/JPY Looks to Correct Gains&#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-15452","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15452","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=15452"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15452\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=15452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=15452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=15452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}