fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for GBP/JPY Wed Oct 23, 2013 8:58 am | |
| Technical Analysis for GBP/JPY The pair failed in stabilizing long above the support of the ascending channel, to kick-start trading Wednesday with sharp losses, currently testing MA 50 –support- at 157.95. Till now, chances for positivity are valid over intraday and short term basis which require stability above 157.05 and targets start with the breach of 159.25 opening way towards 162.00 areas. Support: 157.95, 157.05, 156.70, 156.00, 155.20 Resistance: 159.25, 159.90, 160.50, 160.90, 161.35 Recommendation Based on the above, buy the pair above 157.95 targeting 159.25 then 160.00 and stop-loss at four-hour closing below 157.05 | |
|