GBPJPY Forecast Feb 03-07

Recommendations: LONG positions above 166.00  with 169.75/171.45 as next targets.

Alternative scenario:The downside breakout of 166.00 will bring a slide to 161.74/164.75

Description: Outlook in GBPJPY is neutral with risk to the upside towards 169.75 ahead of 171.45 levels as long as support 166.00 holds on a daily closing basis, break of 171.45 would open 172.30 next. On the downside losing the key support 166.00 will bring a free fall to 161.74/160.40 ahead of 159.42/157.97 levels.

Support & Resistance : 159.42 , 160.40 , 161.74 , 166.00 (Pivot) ,169.75 , 171.65 , 173.65 , 174.83

 

GBPJPY Forecast Feb 03-07

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