{"id":8159,"date":"2010-04-01T08:24:08","date_gmt":"2010-04-01T12:24:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8159"},"modified":"2010-04-01T08:24:08","modified_gmt":"2010-04-01T12:24:08","slug":"potential-reversal-for-gbpjpy","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/01\/potential-reversal-for-gbpjpy\/","title":{"rendered":"Potential Reversal for GBP\/JPY"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; 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, and it might have  the potential of reaching towards 1.4000 in the coming days. Forex  traders can take advantage of this imminent downward movement by  entering short positions at an excellent entry price.<\/p>\n<p>\u2022\tThe chart below is the 8-hour GBP\/JPY  chart by ForexYard.<\/p>\n<p>\u2022\tThe technical indicators that are used are the Relative Strength  Index (RSI), Slow Stochastic and Williams Percent Range.<\/p>\n<p>\u2022\tPoint 1: The Relative Strength Index (RSI) indicates that the price  of this cross currently floats in the overbought territory, signaling  downward pressure.<\/p>\n<p>\u2022\tPoint 2: The Slow Stochastic indicates a bearish cross, signaling  that the next move may be in a downward direction.<\/p>\n<p>\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<p>GBP\/JPY 8-Hour Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/GBP-JPY-1-4.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/GBP-JPY-1-4.JPG\" alt=\"\" width=\"476\" height=\"614\" \/><\/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 Anton Eljwizat &#8211; 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, and it might have the potential of reaching towards 1.4000 in the coming days. Forex traders can take &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/01\/potential-reversal-for-gbpjpy\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Potential Reversal for GBP\/JPY&#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-8159","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8159","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=8159"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8159\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}