Sunday 18 October 2015

Forex Technical Analysis of GBPJPY for October 19, 2015

Support - S1 : 183.558 | S2 : 182.760 | S3 : 182.178
Resistance - R1 : 184.938 | R2 : 185.520 | R3 : 186.318
Main Trend - Bearish
Intraday Trend - Bearish

On 4H chart of forex technical analysis, we observe that EMA(50) and EMA(200) remain with a downward cross. Price moves between EMA(200) and EMA(50). Also, we have to notice that price moves within the lower channel of an upward Andrew's Pitchfork.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

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