Support - S1 : 170.333 | S2 : 168.163 | S3 : 166.247
Resistance - R1 : 174.419 | R2 : 176.335 | R3 : 178.505
Main Trend - Bearish
Intraday Trend - Bullish
Applying all the rules of forex technical analysis for the exchange rate GBPJPY on the 4H chart we observe that the price close between EMA(50) and EMA(200). The price moves within the upper channel of Andrew's Pitchfork and at the same moment has formed an upward channel (black lines).
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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Resistance - R1 : 174.419 | R2 : 176.335 | R3 : 178.505
Main Trend - Bearish
Intraday Trend - Bullish
Applying all the rules of forex technical analysis for the exchange rate GBPJPY on the 4H chart we observe that the price close between EMA(50) and EMA(200). The price moves within the upper channel of Andrew's Pitchfork and at the same moment has formed an upward channel (black lines).
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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