GBPJPY Analaysis

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mazen nafee 2014.07.29 04:45

Month Time Frame

Bearish AB=CD Pattern

Bearish TOTAL Pattern

Month Resistance at 174.407

mazen nafee 2014.07.29 04:54 #1

Weekly Time Frame

Bearish A Cypher Pattern

Bearish AB=CD Pattern

Bearish TOTAL Pattern

Bearish Divergence (ADX)

Month Resistance at 174.407

mazen nafee 2014.07.29 05:04 #2

H1 Time frame

Day Resistance one At 173.10

Bearish TOTAL Pattern

Bearish Divergence (ADX)

mazen nafee 2014.07.29 05:07 #3

Autocharts

mazen nafee 2014.07.29 09:32 #4

Pivot: 173.35

Our preference: Short positions below 173.35 with targets @ 172.55 & 172.35 in extension.

Alternative scenario: Above 173.35 look for further upside with 173.75 & 174.1 as targets.

Comment: The pair remains within a bearish channel.

Supports and resistances:
174.1
173.75
173.35
172.9843 Last
172.55
172.35
171.9