8/8/2019 GBPJPY 4 Spreadex
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SEVEN DAYS AHEAD Professional trading guides and recommendations for the World's markets
Authorised and Regulated by the FSA 124 REGENTS PARK ROADLONDON NW18XL TEL +44 (0) 7849 933573E-MAIL [email protected] WWW.SEVENDAYSAHEAD.COM This information memorandum has been prepared solely for informational purposes for customers of Seven Days Ahead and is based on publicly available information from sourcesbelieved to be reliable. It is not an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation is mad e as to the completeness oraccuracy of any statements or forecasts contained herein and no responsibility or liabil ity is accepted for losses arising from transactions undertaken or investments purchased, sold orheld on its recommendation. Consequently, any persons acting on information contained herein do so entirely at their own risk. Although the opinions contained herein wereconsidered valid at the time of release, financial markets are subject to rapid and unexpected movements. Seven Days Ahead, its associated companies, their directors, employees,other customers or connected persons may from time t o time undertake transactions or deal in inves tments mentioned in this in formation memorandum or have a material in terest,relationship or arrangement in relation to them.
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Market Bulletin 20th January 2011
GBP/JPY Bulls Trying to Gain ControlPrice action in the GBP/JPY cross was relatively subdued in the second half of 2010, althoughstaying on the weak side. A recent bounce has again raised the prospect of a better recoveryphase, but key resistance still needs to be overcome.
The FX Specialist viewWEEKLY CHART
Price swings havecontinued here, with themarket still unable to holdbelow the 76.4% level.
On the upside a recoverythrough the current 23.6%rebound level at 134.30would be a positive sign.
8/8/2019 GBPJPY 4 Spreadex
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SEVEN DAYS AHEAD Professional trading guides and recommendations for the World's markets
Authorised and Regulated by the FSA 124 REGENTS PARK ROADLONDON NW18XL TEL +44 (0) 7849 933573E-MAIL [email protected] WWW.SEVENDAYSAHEAD.COM This information memorandum has been prepared solely for informational purposes for customers of Seven Days Ahead and is based on publicly available information from sourcesbelieved to be reliable. It is not an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation is mad e as to the completeness oraccuracy of any statements or forecasts contained herein and no responsibility or liabil ity is accepted for losses arising from transactions undertaken or investments purchased, sold orheld on its recommendation. Consequently, any persons acting on information contained herein do so entirely at their own risk. Although the opinions contained herein wereconsidered valid at the time of release, financial markets are subject to rapid and unexpected movements. Seven Days Ahead, its associated companies, their directors, employees,other customers or connected persons may from time t o time undertake transactions or deal in inves tments mentioned in this in formation memorandum or have a material in terest,relationship or arrangement in relation to them.
in association with
DAILY CHART:
Recent strength has been puttingpressure on the bear channel top at132.25/30.
A close above this would bepositive, but a further recoverythrough the 134.21/30 area (Novhigh and 23.6% level, see Weeklychart above) is needed for a decentbull signal. We would then startcalculating higher targets.
First support could lie around the129.31 30-Nov low.
Philip Allwright
Mark Sturdy
Seven Days Ahead
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