Ridzuan FX SMS Signals: GBP/JPY WEEKLY OUTLOOK Smart Traders Smart Solutions GBP/JPY rebound was limited at 173.65 last week and reversed. The development suggest that consolidation pattern from 174.84 is still in progress and has started the third leg. Initial bias remains on the downside this week and break of 168.34 will target 166.57 support and below. On the upside, above 171.20 will turn bias back to the upside for 173.65/174.84 resistance zone instead. In the bigger picture, the up trend from 116.83 is still in progress and there is no sign of reversal yet. Break of 159.98 resistance turned support is needed to indicate medium term topping. Otherwise, outlook will stay bullish. The up trend from 116.83 should target 50% retracement of 251.09 to 116.83 at 183.96 and above after completing the consolidation from 174.84. In the longer term picture, GBP/JPY has broken 55 months EMA decisively and monthly MACD staying positive. The chance for a sustainable medium term to long term up trend is raised. Sustained trading above 38.2% retracement of 251.09 to 116.83 at 168.11 now opens up the case for further rally to 61.8% retracement at 199.80 and above. MY RECOMMENDATION: GBP/JPY STAY HOLD YOUR SELL SECOND POSITION OPEN LAST WEEK AT 172.70 AND REMAIN YOUR STOP LOSS(SL) AT 169.50 , AND REMAIN TP=OPEN; AS MY LAST RIDZUAN FX SIGNAL ON FRIDAY BEFORE MARKET CLOSED SESSION BEFORE. LAST PREVIOUS RIDZUAN FX SMS SIGNALS SMS AND SUCCESS DELIVERY REPORT AS BELOW; Ridzuan FX SMS Signals: Please Move STOP LOSS(SL) GBPJPY Position # 2 NOW for PREVIOUS SELL AT 172.70, to 169.50 Current Rate: 168.67 Success SMS Delivery Report: To Pakistan Client Phone No: 00923002xxxx34 Description: Success - Message sent. DLR Time : 2014-01-25 04:22:39 Message: Ridzuan FX SMS Signals: PLEASE MOVE YOUR STOP LOSS(SL) GBPJPY POSITION 2 NOW FOR PREVIOUS SELL AT 172.70 TO 169.50 CURRENT RATE: 168.67 Thank You, Ridzuan FX Chief Executive Officer of Ridzuan FX SMS Signals
Posted on: Sun, 26 Jan 2014 14:42:39 +0000
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