GBPJPY Daily Forecast Jun 05 2014

Outlook in GBPJPY  remains on the upside as long as support 171.80/171.25 holds on a daily closing basis , stability above the 171.80  levels  on a daily closing basis will build pressure on the 172.35  levels , a break will open 173.45  next , If this important resistance is taken out , expect the pair to fly towards the 174.83  levels.

On the downside , minor support comes at the 171.80 levels   followed by main support at the 171.25  levels , losing the last one on a daily closing basis will turn outlook neutral for retesting 170.30 /169.53  levels ,  If this level fails , expect the pair to extend losses towards the 167.75..

In all , as long as support 171.25 holds on a daily closing basis , outlook in GBPJPY  remains on the upside with risk towards the 172.35  levels ahead of the 173.45 levels . Below 171.25  will turn outlook neutral for retesting the 170.30 /169.53  before the next possible rise…

 

GBPJPY Daily Forecast Jun 05 2014

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