Murray Math Lines 24.04.2012 (GBP/JPY, EUR/GBP, AUD/JPY)

Analysis for April 24^th, 2012

GBP/JPY

At the H1 chart the price has left an “overbought zone”, but currently the market is again testing the 8/8 level and the H4 Super Trend’s line. It looks like the market is going to rebound from these levels. If it does, the correction may continue up to the 6/8 level, where Take Profit on short-term sell order is placed.



At the M30 chart the lines are a bit different. If the price rebounds from the 8/8 level, the pair will fall down towards the 4/8 one. If this level is strong enough to resist and the market rebounds from it, the price may start growing up again.

EUR/GBP

The EUR/GBP currency pair is being corrected below the H4 Super Trend. Most likely, this movement is just another consolidation inside the current down-trend, that’s why I’ve decided to open one more sell order. The target for the bears for the next several days is the 4/8 level.



At the H1 chart the price is moving below the 3/8 level towards the 0/8 one. The bears are supported by the Super Trends’ lines. Most likely, the price will start falling down again in the nearest future.

AUD/JPY

The 4/8 level turned out to be too strong for the bulls to break and the price rebounded from it. Taking into consideration the fact that the market is moving below the 3/8 level, we can expect it to continue falling down towards the 0/8 one, where Take Profit on sell orders is placed.



At the H1 chart the correction started from the 4/8 level. The price is unlikely to move lower than The H4 Super Trend. The main target is still at the 0/8 level. If the pair is able to stay below the 3/8 level, the bears will continue pushing the market towards their target, the 0/8 one.