Admiral Markets Group consists of the following firms:

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • FSCS protection
  • Negative balance protection
CONTINUE

Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • Guarantee Fund
  • Negative balance protection
CONTINUE

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • ICF protection
  • Negative balance protection
CONTINUE

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
  • Leverage up to:
    1:500 for retail clients
  • Volatility protection
  • Negative balance protection
CONTINUE
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Regulator fca efsa CySEC asic

GBP/JPY Bearish Divergence at W L3 Camarilla Resistance

January 08, 2018 08:57

As the BoJ commenced some minor tapering to its massive Balance Sheet in the month of December, the past week has seen some strong risk-on across Commodities, Equities and JPY crosses. Manufacturing data across the major exporters are still in expansion mode, including Japan, this is good longer-term for the Nikkei, but may complicate JPY price moves. I expect a retrace to the downside on JPY pairs.

Technically the GJ is showing bearish divergence very close to weekly L3 camarilla pivot. The divergence is aligned with historical sellers and if we see a 4h close below M H3, the pair should drop faster towards 152.80- intraday targets and possibly 152.30. Continuation of the bearish drop is expected only if the pair gets below 152.30.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Follow @TarantulaFX on twitter for latest market updates

Sign up for Live Trading Webinars with Nenad Kerkez T

Connect with Nenad Kerkez T on Facebook for latest market update

Read the Camarilla trading blog


Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.