Forex | Forex Strategies | GBPJPY broke out of the 1 hr triangle formation to the upside (30/06/2009 09:50:44)

GBPJPY broke out of the 1 hr triangle formation to the upside

Today's report GBPJPY Daily We are in an uptrend at an angle of 24 degrees. 156.07 is 38.2% retracement of the downward move. The previous high is at 162.70. We are mixed on the Moving Averages. Momentum is just below the signal line but holding onto the upward trend line. MACD is above the signal line but has broken the trend line and gone flat. RSI was overbought at the high and is now at 58. We have no divergence. TOP CHANNEL – 169.55 BOTTOM CHANNEL - 152.65


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