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GBP/JPY Bullish Signals

Posted on September 7, 2009 at 7:54 in Intraday Techs by César B. Leiceaga

Last week I mentioned a significant bullish divergence on the RSI indicator.

Simple moving averages (30,50,100 and 200) are now crossing to the upside indicating a that a possible short-term bottom may be in place.

The next significant resistance is 153,60-154,00.

César B. Leiceaga

Tags: forex, fx, gbp, gbpjpy, jpy, moving averages, pound, RSI, yen

4 Responses to “GBP/JPY Bullish Signals”

  1. on 07 Sep 2009 at 5:59 pm1James S.

    This blog is new but fantastic at same time… I’m gonna check it out everyday ’cause I think the information you give is very usefull!!!
    Thanks Cesar.

  2. on 08 Sep 2009 at 2:30 am2David P.

    I’m checking your blog everyday, Cesar. Would you please comment on USD/CAD? How low can it go?
    Thanks so much.

  3. on 08 Sep 2009 at 3:06 am3César B. Leiceaga

    Thank you James S.

  4. on 08 Sep 2009 at 3:23 am4César B. Leiceaga

    Hi David P.

    USD/CAD is still trapped in a range between 1,0630 and 1,1130.
    We are now trading at the bottom of the range and in my opinion it is an excellent opportunity to buy around 1,0650 - 1,07 area always placing your stops below 1,06.
    How long can it go? I would pay attention to the dollar correlation with Gold and S&P’s. Also check the dollar index which is hovering around 77.50’s a break though these levels could trigger a sell off in the U.S. Dollar.

    Regards,

    César B. Leiceaga

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