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Forex Signals - Intraday Strategy for GBP / JPY 03/09/10

Pair GBP / JPY on the hourly chart is traded under the uptrend is likely to move downward. It shows that the rate of GBP / JPY is trading below the moving average with period 55 per hour schedule (level 130.02), which generally helps to reduce prices in the short term.

I recommend to open long positions after the breakdown of the results of hours of resistance at 130.15 with a view to increasing the resistance at 130.31-55 and if it is the breakdown on the basis of hours to 130.85-97. Stoploss if this strategy can be placed at 129.60.

I recommend to open short positions after the breakdown on the basis of hours of support at 129.69 with a view to reducing the level of support at 129.40-22, and in case of breakdown to 128.79. Stoploss if this strategy can be placed at 130.30.

Given that the moving average and the location of boundaries of technical figures over time is moving, it is necessary to the hourly chart to adjust their status. I also would recommend to open positions up to an hour to avoid false breakouts.

If a strong motion during the breakthrough technical figures, I recommend to wait for the correction. The level, which was the resistance should be a strong support and it was near this level should open position in the direction of the breakdown.

Analyst "Forex Analytics" Alex Sedyshev