GBPJPY Weekly Forecast Apr 28 2014

Outlook in GBPJPY remains  neutral ,  support comes at the 168.50 levels  while resistance at the 173.57 levels . On the upside ; to resume the upside offensive , sustained trading above the 173.57 is needed  , If seen , the pair will recapture the 174.83 levels , a break would open 175.85 next , further upside will pave the way towards the 179.18 levels.

On the downside , sustained trading below the 168.50 levels will confirm short term topping , If seen , expect the pair to weaken further towards the 166.57 levels , further downside will aim the 163.86 levels.

In all , the GBPJPY is likely to consolidate within 168.50/173.57 range before the next move………

GBPJPY Weekly Forecast Apr 28 2014