{"id":19494,"date":"2011-02-16T07:55:54","date_gmt":"2011-02-16T12:55:54","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19494"},"modified":"2011-02-16T07:55:54","modified_gmt":"2011-02-16T12:55:54","slug":"gbpjpy-uptrend-might-be-in-the-end","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/16\/gbpjpy-uptrend-might-be-in-the-end\/","title":{"rendered":"GBP\/JPY Uptrend might be in the End"},"content":{"rendered":"

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

In the last three weeks trading, the GBP\/JPY <\/a>experienced much bullishness, as it stands now at 135.40. However as I demonstrate below, it seems that the pair\u2019s bullish run may have run of steam, and a bearish correction could be underway soon. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short in order to ride out the impending wave.<\/p>\n

\u2022\tBelow is the 8-hour chart of the GBP\/JPY currency pair.<\/p>\n

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

\u2022\tPoint 1: There is a \u201cdoji\u201d candlestick that has formed on the chart, indicating that a reversal should take place.<\/p>\n

\u2022\tPoint 2: The Slow Stochastic indicates an impendin bearish cross, signaling that the next move may be in a downward direction.<\/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: Williams Percent Range also supports the upward direction.<\/p>\n

GBP\/JPY 8-Hour Chart
\n\"GBP-JPY<\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><\/span>
\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":"

In the last three weeks trading, the GBP\/JPY experienced much bullishness, as it stands now at 135.40. However as I demonstrate below, it seems that the pair\u2019s bullish run may have run of steam, and a bearish correction could be underway soon. Forex traders…<\/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-19494","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19494","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=19494"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19494\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}