GBPJPY extends the upside move, a new bullish opportunity
Monday, February 17, 2014
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$GBPJPY managed to consolidate above 61.8% correction of CD Leg of the pattern at 169.90 represented in the second target of the harmonic formation, as it also stabilized above the psychological barrier 170.00
According to the technical harmonic analysis rules, stability above 169.70 might extend the upside move towards the first extended target at 171.50 represented in 78.6% correction of CD Leg of the pattern. The pair has to remain stable above 169.70 levels to avoid deep corrections before completing the bullish wave, especially that i notice weak signals on MACD.
Generally, consolidating above 169.70 provided new buying opportunities whereas it’s possible to long the pair above 168.80 again; therefore my strategy is long the pair above 169.80 targeting 171.50 and 172.40./ stops @168.95
To check the full forex performance results for 2013 and join @Aymanfxsignals contact my Email here ( Aymanfxsignals@yahoo.com )
Ayman Khlifat on Twitter : @Aymankkhlifat
$GBPJPY managed to consolidate above 61.8% correction of CD Leg of the pattern at 169.90 represented in the second target of the harmonic formation, as it also stabilized above the psychological barrier 170.00
According to the technical harmonic analysis rules, stability above 169.70 might extend the upside move towards the first extended target at 171.50 represented in 78.6% correction of CD Leg of the pattern. The pair has to remain stable above 169.70 levels to avoid deep corrections before completing the bullish wave, especially that i notice weak signals on MACD.
Generally, consolidating above 169.70 provided new buying opportunities whereas it’s possible to long the pair above 168.80 again; therefore my strategy is long the pair above 169.80 targeting 171.50 and 172.40./ stops @168.95
To check the full forex performance results for 2013 and join @Aymanfxsignals contact my Email here ( Aymanfxsignals@yahoo.com )
Ayman Khlifat on Twitter : @Aymankkhlifat
