GBPJPY Bearish, Retains Its Downside Pressure

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GBPJPY: The cross remains vulnerable to the downside on further weakness as it retains its bearish bias. On the downside, support comes in at the 148.00 level

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10/6/2017 1 FXTechstrategy Currency Technicals Daily Technical Research www.fxtechstrategy.com GBPJPY Bearish Retains Its Downside Pressure Gives You A Trading Decision Edge Saturday Oct 05’17 Highlights:

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10/6/2017 2 FXTechstrategy FXT Technical Strategist Plus GBPJPY Bearish Retains Its Downside Pressure GBPJPY: The cross remains vulnerable to the downside on further weakness as it retains its bearish bias. On the downside support comes in at the 148.00 level where a violation will aim at the 147.50 level. A break below here will target the 147.00 level followed by the 146.50 level. Conversely resistance is seen at the 149.00 level followed by the 149.50 level. A cut through that level will set the stage for a move further higher towards the 150.00 level. Further out resistance resides at the 150.50 level. All in all GBPJPY remains weak and vulnerable to the downside EURUSD

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f 10/6/2017 4 FXTechstrategy GOLD Technicals Glossary Of Technical Analysis Terms Used LT - Denotes the Long-term trend and refers to the overall direction of price action greater than 6 months ST - Denotes the short-term trend and refers to the overall direction of price action from 3 – 6 weeks MT- Denotes the medium-term trend and refers to the overall direction of price action from 3 – 6 months NT - Denotes the near-term trend and refers to the overall direction of price action from 1 – 3 weeks Support - Support is a price level where buying pressure exceeds selling pressure and a decline is brought to an end. Resistance - Resistance is a price level where selling pressure exceeds buying pressure and a rally is brought to an end Trend- Simply means the direction a market is moving Uptrend – An uptrend is determined by a series of higher highs and higher lows. While each successive peak is higher than the previous peak and each successive low is higher than the prior low the trend is up. Downtrend - A downtrend is the opposite of an uptrend defined by a series of lower highs and lower lows. Stochs – Stochastics is a momentum study/indicator which helps in identifying overbought or oversold conditions during various trend phases. It serves to highlight the increased prospect of a potential price correction or trend reversal. RSI –Relative Strength Index is also a momentum study/indicator which helps in identifying overbought or oversold conditions during various trend phases. It serves to highlight the increased prospect of a potential price correction or trend reversal. Psych Level- Denotes psychological levels which are round numbers such as 1000200050200 etc and are very significant in the forex market. They can act as support and resistance levels and can be used as price targets for profit taking.

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f 10/6/2017 5 FXTechstrategy GOLD Technicals This report is prepared solely for information and data purposes. Opinions estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty express or implied is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer Disclaimer

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