{"id":19296,"date":"2011-02-11T07:55:01","date_gmt":"2011-02-11T12:55:01","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19296"},"modified":"2011-02-11T07:55:01","modified_gmt":"2011-02-11T12:55:01","slug":"gbpjpy-likely-to-see-downward-reversal","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/11\/gbpjpy-likely-to-see-downward-reversal\/","title":{"rendered":"GBP\/JPY Likely to See Downward Reversal"},"content":{"rendered":"

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

The pair has recorded much bullish behavior in the past several days. However, the technical data indicates that this trend may reverse anytime soon. For example, as I demonstrate below, the daily chart signals that a bearish reversal is imminent, and it might have the potential of reaching towards 1.3200 levels in the coming days. This might be a good opportunity for forex traders to enter the trend at a very early stage and a great entry price.<\/p>\n

\u2022\tBelow is the 8-hour chart for the GBP\/JPY<\/a>.<\/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: There is a \u201cdoji\u201d candlestick formed in the chart, indicating that a reversal should take place.<\/p>\n

\u2022\tPoint 2: The Slow Stochastic indicates an impending bearish cross, which may signal a downward movement is going to occur in the near future.<\/p>\n

\u2022\tPoint 3: The Relative Strength Index (RSI) indicates that the price of this cross currently floats in the overbought territory, signaling downward pressure.<\/p>\n

\u2022\tPoint 4: The Williams Percent Range has peaked at the 0 marker and has turned bearish; this means that there may actually be a strong level of downward pressure.<\/p>\n

GBP\/JPY 8-Hour Chart
\n\"EUR-GBP<\/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 pair has recorded much bullish behavior in the past several days. However, the technical data indicates that this trend may reverse anytime soon. For example, as I demonstrate below, the daily chart signals that a bearish reversal is 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-19296","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19296","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=19296"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19296\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}