{"id":18287,"date":"2011-01-19T08:00:51","date_gmt":"2011-01-19T13:00:51","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18287"},"modified":"2011-01-19T08:00:51","modified_gmt":"2011-01-19T13:00:51","slug":"is-the-gbpjpy-due-for-a-reversal","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/19\/is-the-gbpjpy-due-for-a-reversal\/","title":{"rendered":"Is the GBP\/JPY Due for a Reversal?"},"content":{"rendered":"

By Anton Eljwizat<\/strong><\/p>\n

The sustained upward movement of the GBP\/JPY <\/a>pair doesn\u2019t seem to be receiving much resistance lately. As I will demonstrate below, the price of GBP\/JPY <\/a>may very well be heading for a correction. Forex traders can take advantage of this imminent downward movement by entering short positions at an excellent entry price.<\/p>\n

\u2022\tBelow is the daily chart for the GBP\/JPY.<\/p>\n

\u2022\tThe technical indicators that are used are the Relative Strength Index (RSI), <\/a>Slow Stochastic <\/a>and Williams Percent Range.<\/p>\n

\u2022\tPoint 1: The Slow Stochastic <\/a>indicates an impending bearish cross, which may signal a downward movement is going to occur in the near future.<\/p>\n

\u2022\tPoint 2: The Relative Strength Index (RSI)<\/a> indicates that the price of this cross currently floats in the overbought territory, signaling downward pressure.<\/p>\n

\u2022\tPoint 3: The Williams Percent Ranges is showing that this pair is heavily over-bought and may be experiencing strong downward pressure.<\/p>\n

GBP\/JPY Daily Chart<\/p>\n

\"GBP-JPY<\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

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":"

The sustained upward movement of the GBP\/JPY pair doesn\u2019t seem to be receiving much resistance lately. As I will demonstrate below, the price of GBP\/JPY may very well be heading for a correction. Forex traders can take advantage of this imminent…<\/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-18287","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18287","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=18287"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18287\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}