Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

USD/JPY Market Pulls Back After Forming Spinning Top Candlestick

Published 12/05/2012, 06:26 AM
Updated 02/02/2022, 05:40 AM
GBP/USD
-
USD/JPY
-
USD/JPY:

The market has pulled back after forming a Spinning Top candlestick. We are no seeing some consolidation above the 76.4% retracement at 81.78.

Looking up, we see resistance at the 100% level of 82.61 with a break higher testing 84.33 (123.6% level). A move lower can test the 61.8% level at 81.26.
<span class=USD/JPY" title="USD/JPY" width="522" height="482">
GBP/USD Recovers from the Trend Line

GBP/USD: The market continues its recovery from the rising trend line. This move comes after completing a bullish Piercing Line candlestick. We can now test the downward sloping line with a rise above that testing 1.6145.

A move above that can test 1.6309. A move lower, and below the trend line support at 1.6040 can test the support cluster at 1.5951 to 1.6003. Below that lies another trend line support at 1.5908.
<span class=GBP/USD" title="GBP/USD" width="522" height="482">
DISCLOSURE And DISCLAIMER: The Above Is For Informational Purposes Only And Not To Be Construed As Specific Trading Advice. Responsibility For Trade Decisions Is Solely With The Reader.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.