Technical Analysis Tools:
Simple Moving Average(SMA) 50-period (red), 200-period (bold, gray)
RSI-14
Fibonacci Study
Elliott Wave Principles
Market and Price Action (patterns, candlesticks)
Multiple Time-Frame Analysis



* Daily: The GBP/JPY has been rallying sharply last week, but stopped to create a harami or inside bar on Friday. Today’s price action is closing below Thursday’s open, and this combination of the 3 candles suggest reversal sentiment.
* RSI in daily shows negative reversal.
* The market was also at 61.8% fibonacci retracement level and a new declining channel resistance. Will the 132.00 pivot hold?

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Fan Yang CMT
Chief Technical Strategist
FXTimes
fyang@fxtimes.com

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.