GBPJPY Daily Forecast Mar 31 2014

The GBPJPY  maintained a bullish momentum last Friday , bottomed at the 169.55 levels and topped at the 171.30 levels .This development leaves the pair targeting the 172.30 levels , a halt is likely , but break of the 172.30 levels would open 173.50  next , further upside will aim the 174.85 levels.

On the downside , support comes at the 170.32 levels ahead of 169.55 (main) , losing this level on a daily closing basis will reverse risks towards the 168.62 levels ahead of the 167.76 levels before the next possible rise …

In all , as long as support 169.55 holds on a daily closing basis , the GBPJPY will remain based to the upside towards 172.30  levels ahead of the 173.50 levels , losing the 169.55  levels on a daily basis will reverse risks towards the 168.62/167.76 levels..

Note that stability above the 171.30 levels will keep pushing towards the 172.30/173.50  levels…below 171.30 will reverse risks towards the 170.32/169.55 levels before the next rise…

GBPJPY Daily Forecast Mar 31 2014

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