Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

GBPJPY falls below trend line/100 hour MA

A.R Chowdhury by A.R Chowdhury
September 2, 2020
Reading Time: 1 min read
0
GBPJPY falls below trend line/100 hour MA

First break below the levels since August 25

First break below the levels since August 25
The GBPJPY is falling below an upward sloping trend line, the swing low from yesterday and earlier today at 141.32 AND the 100 hour MA (blue line) at 141.256.   The move below the 100 hour MA is the first look below the level since August 25.  Risk for sellers looking for more downside probing is now that area between 141.256 and 141.34 (broken trend line level). Stay below that area keeps the seller in control. 

The next downside target comes in at the 38.2% retracement at 140.999 (call it 141.00).  

The highs today was a precursor for the recent bearish break.  The Asian high and the early NA session high were near swing highs from Monday and Tuesday’s trading (see green numbered circles).  The inability to move above that “yellow area”, showed sellers leaning against resistance. They were eventually joined by other sellers (may have been longs getting out).  
For bank trade ideas, check out eFX Plus

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

European shares end the day with gains

S&P trades to a new session high/all-time new highs

S&P trades to a new session high/all-time new highs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

S&P index remains between its 50 hour 100 hour moving averages

April 4, 2020

S&P is back in the black for the year

July 29, 2020

Cable looks to snap ten consecutive days of gains amid firmer dollar, softer risk mood

June 11, 2020

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • Bitcoin technical analysis, bulls might be giving up soon

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.