GBPJPY Daily Forecast Apr 29 2014

The GBPJPY continued its  bullish momentum yesterday , printed support at the 171.25  levels . This development leaves the pair targeting the 173.40 levels where a breach will turn focus on the 174.50  levels , further upside will aim the 175.70 levels.

On the downside , main support comes at the 171.25   levels , losing this level on a daily closing basis will turn outlook neutral for retesting 169.50 levels before the next possible rise, losing the 169.50  levels would open 167.80  levels.

In all , as long as support 171.25  holds on a daily closing basis , outlook in GBPJPY  remains on the upside towards the 173.40/174.50  levels , below 171.25  will reverse risks towards the 169.50  levels.


GBPJPY Daily Forecast Apr 29 2014