LONG GBP-JPY, trend reversal at hour timeframe

٢٥ سبتمبر ٢٠١٤

The GBP-JPY rate should extend to the second Fibonacci resistance providing an upward moe through the fist resistance, which was briefly breached yesterday. The parabolic stop and reversal is indicating the start of an upward move and any buy order should be executed now. The MACD also indicates the start of a new trend, as the faster moving average has crossed the slower one in the upward direction.

Take profit @ 178.500