Sunday 15 November 2015

Forex Technical Analysis of GBPJPY for November 16, 2015

Support - S1 : 186.472 | S2 : 186.119 | S3 : 185.843
Resistance - R1 : 187.101 | R2 : 187.377 | R3 : 187.730
Main Trend - Bullish
Intraday Trend - Bullish

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

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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