fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for GBP/JPY  Mon Oct 21, 2013 10:42 am | |
|  Technical Analysis for GBP/JPY The pair is still trending higher approaching the broken key support –now resistance- currently at 158.85. The MA 50 is still offering support for GBPJPY from below alongside positivity on Stochastic. Therefore, we expect the positive bias to prevail this week targeting a retest of 159.90 areas opening way towards 162.00 areas which requires stability above 157.05. Support: 157.70, 157.05, 156.70, 156.00, 155.20 Resistance: 158.85, 159.15, 159.90, 160.50, 160.90 Recommendation Based on the above, buy the pair above 158.85 targeting 159.90 then 161.50 and stop-loss at four-hour closing below 157.70 | |
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