GBPJPY – A strong bullish momentum saw GBPJPY wiping out its two-week losses and breaking through the 132.905 level, its Mar 22’2011 high to close at 135.40 the past week. This rally is coming on the back of a loss of downside momentum at 122.40 and now leaves risk of further price extension towards the 135.47 level, its Feb 18’2011 high. Guest post by www.fxtechstrategy.com A decisive break of that level will set the stage for a run at its Aug 03’2010 high at 137.75 followed by the 140.00 level, its psycho level. Its weekly stochastic is bullish and pointing higher supporting this view. Alternatively, on any weakness, the 132.95 level will be targeted at first where we expect a reversal of roles as support. Further down, support lies at the 130.19 level with a loss of there turning focus to the 127.40 level, its Mar 18’2011. All in all, GBPJPY remains broadly biased to the upside in the short to medium term as it looks to strengthen further in the day’s ahead. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next USD/JPY Outlook April 4-8 Anat Dror 11 years GBPJPY - A strong bullish momentum saw GBPJPY wiping out its two-week losses and breaking through the 132.905 level, its Mar 22'2011 high to close at 135.40 the past week. This rally is coming on the back of a loss of downside momentum at 122.40 and now leaves risk of further price extension towards the 135.47 level, its Feb 18'2011 high. Guest post by www.fxtechstrategy.com A decisive break of that level will set the stage for a run at its Aug 03'2010 high at 137.75 followed by the 140.00 level, its psycho level. Its weekly stochastic is bullish and pointing… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
