fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for GBP/JPY Thu Oct 31, 2013 10:15 am | |
| Technical Analysis for GBP/JPY Sterling ended yesterday above 157.70 areas to add more support for our bullish intraday expectations. Stochastic is heading towards oversold areas supporting the extension of the upside move today. The positive outlook for the pair remains valid as far as trading 157.05 remains intact targeting next 159.00 followed by 159.90 areas. Support: 157.70, 157.05, 156.70, 156.00, 155.20 Resistance: 158.60, 159.00, 159.90, 160.50, 160.90 Recommendation Based on the above, buy the pair above 157.70 targeting 159.00 then 159.90 and stop-loss at four-hour closing below 157.05 | |
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