GBPJPY Fx Reversal Signals – Ready for falls?

A quick note on the GBPJPY forex pair outlook.

Price has reached the 15300 level and rejected, confirming a strong sell signal / reversal pattern.

Logical price action laws suggest this is the termination of the most recent recovery and as long as prices remain under 15300 resistance, the market has a solid chance of now selling off back into lower levels, closer to 14800 and then 14480. Its not a certaintiy, but we may actually see this pair rotate all the way back down into 14000 levels once again, as this is the most recent low, and would be a logical target.

The GBPJPY pair is notorious for its volatility, so watch it closely, and favor the sellers under 15300 in the near term. see price chart below.

Lisa said,

October 30, 2009 @ 8:22 am

hmmm ~ not so good this time around
volatile

nial said,

October 30, 2009 @ 8:58 am

Yes, the price did move the right way initially, but the market has now moved back up.
Volatile at the moment thats for sure.

RSS feed for comments on this post · TrackBack URI

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Learn To Trade The Market Pty Ltd, it's employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.