GBPJPY Daily Forecast Oct 24 2014

The GBPJPY maintained a bullish momentum yesterday , printed support at the 171.70  levels . This development leaves the pair targeting the 175.20  levels , a halt is likely , but a break would open 177.15 next , further upside will aim the 179.30 levels..

On the downside , support comes at the 173.00 levels ahead of the 171.70 levels (main) , losing this level will turn outlook neutral for retesting the 170.00/168.00 levels before the next possible rise.

In all , as long as support 171.70 holds on a daily closing basis , outlook in GBPJPY  remains on the upside towards the 175.20 levels ahead of the 177.15  levels , below the 171.70  levels  will turn outlook neutral towards the 170.00/168.00  levels before the next move.

Note that stability above 173.65 is needed to accelerate the expected bullish move …….


GBPJPY Daily Forecast Oct 24 2014