{"id":19424,"date":"2011-02-14T08:59:35","date_gmt":"2011-02-14T13:59:35","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19424"},"modified":"2011-02-14T08:59:35","modified_gmt":"2011-02-14T13:59:35","slug":"gbpjpy-testing-significant-resistance-level-at-134-25","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/14\/gbpjpy-testing-significant-resistance-level-at-134-25\/","title":{"rendered":"GBP\/JPY Testing Significant Resistance Level at 134.25"},"content":{"rendered":"<p><strong>By Greg Holden<\/strong><\/p>\n<p>The  British pound is once more pushing towards its significant resistance  level against the Japanese yen at 134.25. The pair has tested this price  barrier twice before over the previous five months, failing to breach  both times.<\/p>\n<p>While the pound has been gaining ground  against a number of its currency rivals, it has so far failed to breach  this resistance line versus the yen.<\/p>\n<p>Looking over the chart below, it appears the pound will once more  fail to break through this resistance level as per the technical  indicators seen on the chart (provided by <a href=\"http:\/\/www.forexyard.com\/en\/open-live-account\">ForexYard<\/a>).<\/p>\n<p>As we can see, the <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic (slow)<\/a> is revealing a fresh bearish cross, signaling an impending downward correction. The recent bearish cross on the <a href=\"http:\/\/www.forexyard.com\/en\/moving-average-convergence-divergence-macd\">MACD<\/a> supports this notion as well.<\/p>\n<p>If this technical analysis bears weight on this week\u2019s trading, then the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gbp-jpy\">GBP\/JPY<\/a> may indeed experience a significant down-turn as it fails once more to break through this price barrier at 134.25.<\/p>\n<p><strong>GBP\/JPY \u2013 Daily Chart<\/strong><br \/>\n<img loading=\"lazy\" decoding=\"async\" title=\"GBPJPY - Daily Chart\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/02\/GBPJPY-Daily-Chart.JPG\" alt=\"GBPJPY - Daily Chart\" width=\"581\" height=\"768\" \/><\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/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>The British pound is once more pushing towards its significant resistance level against the Japanese yen at 134.25. The pair has tested this price barrier twice before over the previous five months, failing to breach both times.<\/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-19424","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19424","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=19424"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19424\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}