Murray Math Lines 22.08.2012 (GBP/JPY, EUR/JPY, GBP/CHF)

Analysis for August 22^nd, 2012

GBP/JPY

The GBP/JPY currency pair is moving above the 8/8 level inside an “overbought zone”, the bears are supported by the H4 Super Trend. In the near term, the price may continue growing up towards the +2/8 level.



At the H1 chart the bulls are trying to break the +1/8 level once again, earlier the price rebounded from this level twice. Most likely, later the pair will break the +2/8 level and the lines at the chart will be redrawn. I’ll move the stop on a buy order into the black as soon as possible.

EUR/JPY

The EUR/JPY currency pair continues growing up. There is a very strong level, the 8/8 one, ahead of the bulls, they may reach it within the next several days. Today I’ve opened a short-term buy order and will move the stop into the black as soon as possible.



At the H1 chart the pair is moving inside an “overbought zone”, the bears are supported by the H1 Super Trend. In the future the price may break the +2/8 level and the lines at the chart will be redrawn.

GBP/CHF

The bulls couldn’t keep the price above the 4/8 level. The pair broke the Super Trends’ lines backwards and then they formed “Dead Cross”. Most likely, the market will continue falling down in the nearest future. The target is the -2/8 level.



At the H1 chart the pair is moving below the 3/8 level. The price may continue falling down during the day. The closest target for the bears is the 0/8 level. If they break it, the pair will move lower.