{"id":7716,"date":"2010-03-19T08:59:19","date_gmt":"2010-03-19T12:59:19","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7716"},"modified":"2010-03-19T08:59:19","modified_gmt":"2010-03-19T12:59:19","slug":"technical-indicators-show-gbpjpy-about-to-tumble","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/19\/technical-indicators-show-gbpjpy-about-to-tumble\/","title":{"rendered":"Technical Indicators Show: GBP\/JPY About To Tumble"},"content":{"rendered":"<p><strong>By Yan Petters<\/strong> &#8211; For the past 6 months, the GBP\/JPY cross has dropped constantly,  eventually reaching a year low at the rate of 132.02. However, promptly  after falling so far, the pair began to correct upwards, and has reached  the 139.35 level two days ago. Could the bullish correction proceed?  Not according to several technical indicators which claim otherwise.<\/p>\n<p>\u2022 The chart below is the GBP\/JPY 4-hour chart by ForexYard.<br \/>\n\u2022 The technical indicators used are the Bollinger Bands, the Slow  Stochastic, the MACD\/OsMA and the Relative Strength Index (RSI).<br \/>\n\u2022 For those of you who\u2019re not sure how to use technical analysis \u2013 this  is a unique example that displays how technical analysis should be used  correctly.<br \/>\n\u2022 Take a look at the different lens \u2013 they all reflect the motion of 3  different technical indicators. See how they all move towards the same  directions over and over again. This has provided you an excellent  opportunity to rely on 3 different leading technical signals at the same  time. This increases dramatically the chances that the cross will  follow the same path, and indeed as can be seen on the chart \u2013 the cross  has moved in the exact same direction.<br \/>\n\u2022 Currently, the Slow Stochastic, the MACD and the RSI all point down,  suggesting that the bullish correction has reached its limit and a  downward movement should take place.<br \/>\n\u2022 The next potential support levels are: 135.00, 133.80 and 132.00.<br \/>\n\u2022 If the cross will fail to breach the next support level, the resistant  levels are: 138.60 and 139.40.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/03\/gbp-jpy.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/03\/gbp-jpy.bmp\" alt=\"\" width=\"595\" height=\"515\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex      Yard.<\/strong><\/a><\/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; For the past 6 months, the GBP\/JPY cross has dropped constantly, eventually reaching a year low at the rate of 132.02. However, promptly after falling so far, the pair began to correct upwards, and has reached the 139.35 level two days ago. Could the bullish correction proceed? Not according to several &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/19\/technical-indicators-show-gbpjpy-about-to-tumble\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Technical Indicators Show: GBP\/JPY About To Tumble&#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-7716","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7716","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=7716"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7716\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}