GBPJPY – With a follow through higher seeing GBPJPY breaking and closing strongly above the 135.47 level, its Feb 18’2011 high. It now looks to target its psycho level at 140.00. While price hesitation on an initial test of that level cannot be ruled out, its eventual break will set the stage for further strength towards the 142.00 level with a turn above that level allowing for additional bull pressure towards the 145.95 level where its April 2010 high is located. Guest post by www.fxtechstrategy.com Its weekly and daily RSI are bullish and pointing higher suggesting further gains. Alternatively, on any pullback from its current price level, GBPJPY should target the 135.47 level, its Feb 18’2011 high. We expect a reversal of roles as support to occur at that level and then turn the cross back up but if this level breaks, further weakness should aim at the 132.905 level, its Mar 22’2011 high. All in all, the cross remains biased to the upside in the short term as it looks to strengthen further in the new week. 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 11-15 Yohay Elam 12 years GBPJPY - With a follow through higher seeing GBPJPY breaking and closing strongly above the 135.47 level, its Feb 18'2011 high. It now looks to target its psycho level at 140.00. While price hesitation on an initial test of that level cannot be ruled out, its eventual break will set the stage for further strength towards the 142.00 level with a turn above that level allowing for additional bull pressure towards the 145.95 level where its April 2010 high is located. Guest post by www.fxtechstrategy.com Its weekly and daily RSI are bullish and pointing higher suggesting further gains. Alternatively, on… Regulated 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.
