GBPJPY Fx Reversal Signals – Ready for falls?

Posted on October 28th, 2009

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

By Viewing any material or using the information within this site you agree that this is general education material and you will not hold anybody responsible for loss or damages resulting from the content provided here by learntotradethemarket.com or any of the forum 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 or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Learn To Trade - Forex Trading

Learn Forex Price Action Strategies - Forex Trading Training

GBPJPY Fx Reversal Signals – Ready for falls?