GBPJPY Daily Forecast Oct 20 2014

Outlook in GBPJPY has turned neutral , a short term support has been placed at the 168.00 levels and more consolidative trading is suggested above the 168.00 levels , but consolidation above the 168.00 levels should be limited by  the 174.95/176.65 levels.

On the downside , support comes at the 171.20 levels , a clear break below this level will turn outlook towards the 168.00 levels , a cut will open 166.12 levels , further losses will pave the way towards the 163.86 levels.

In all , as long as support 168.00 holds on a daily closing basis ,  the GBPJPY  remains in recovery mode , but recovery should be limited by the 174.95/176.65 levels , below 168.00 will resume fall from 180.70 towards the 166.12/163.86 levels.


GBPJPY Daily Forecast Oct 20 2014