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Analysis on GBPJPY 07.03.2017 by PaxForex

 

The price is below the moving average 20 MA and 200 MA, indicating the downward trend.
Average in the MACD came out of the histogram.
The oscillator Force Index is below the zero level.

 

If the price rebound from resistance level, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 138.80
• Take Profit Level: 137.80 (100 pips)

 

If the level of resistance is broken, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 139.60
• Take Profit Level: 140.2 (60 pips)

GOLD
Possible short position at the breakdown level 1222

GBPUSD
Possible short position at the breakdown level 1.2180

EURUSD
Possible long position at the breakout level 1.0600

USDCHF
Possible long position at the breakout level 1.0160

 

Source: www.paxforex.com

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