GBPJPY Weekly Forecast Apr 07 2014

The weekly break below support 168.82 levels , printed resistance at the 173.57. As a result , outlook in GBPJPY turns to the downside , support comes at the 170.97 levels , sustained trading below the 170.97 levels would open 169.71 levels , a break would open 167.76 levels , a cut will look for the  166.00 ahead of the 163.86 levels….

On the upside , resistance comes at the 173.57 levels , a break would challenge the 174.83 levels , If this important resistance is taken out , expect the pair to strengthen further towards the 175.82 levels , further upside will open the 179.18 levels…

In all , as long as resistance 173.57 / 174.83  holds on a weekly basis , the GBPJPY will remain based to the downside  towards 167.76/169.71 levels , a clear break above the 173.57 / 174.83 levels would open 175.82/179.18 levels ….

 

GBPJPY Weekly Forecast Apr 07 2014

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