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 Technical Analysis for GBP/JPY

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fxpulsation



Posts : 8759
Join date : 2012-01-25

PostSubject: Technical Analysis for GBP/JPY   Thu Mar 06, 2014 10:32 am



Technical Analysis for GBP/JPY

The pair is stable above the breached resistance –now support- at 171.00 supporting the expected upside move over intraday and short term basis. Upside targets are at 173.60 then 174.80 where the MA 50 & 100 continue to support the pair from below. A breakout below 171.00 will push the pair to test the critical support at 169.20 once again.

Support: 171.00, 170.25, 170.00, 169.20, 139.00
Resistance: 172.30, 173.00, 173.60, 174.80, 175.65

Recommendation The outlook is positive above 171.10; the intraday risk-limit is below 169.20
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