GBPJPY Daily Forecast Jul 31 2014

Outlook in GBPJPY remains neutral at the moment , resistance comes at the 174.30 levels , break of the 174.30 levels on a daily closing basis will print support at the 172.64 levels and recapture the 175.36 levels , If this important resistance is taken out , expect the pair to flyby towards the 176.20/177.40 levels and possible higher towards the 178.50 levels….

On the downside , support comes at the 172.36 levels , sustained trading below this level will extend losses towards the 170.44/172.02 levels before the next possible rise…

In all , the GBPJPY is likely to consolidate within 172.36/174.30 range  before the next move………….


GBPJPY Daily Forecast Jul 31 2014