GBPJPY Weekly Forecast Aug 11 2014

The GBPJPY continued its bearish momentum last week , printed resistance at the 173.50  levels . This development leaves the pair targeting the 169.45  levels , a halt is likely , but losing the 169.45 levels on a weekly basis would open 167.85 next , further downside will aim the 166.00 levels….

On the upside , resistance comes at the 172.60  levels ahead of the 173.50 levels (main) , break of the 173.50 levels  will turn outlook neutral for the 175.35   levels , a halt could be seen , but break of the 175.35  levels will open 176.00/177.00  levels…

In all , as long as resistance 173.50  holds on a weekly closing basis , outlook in GBPJPY  remains on the downside towards the 169.45  levels and  possible lower towards the 167.85   levels , break of 173.50  levels will reverse risks towards the 175.35   levels…


GBPJPY Weekly Forecast Aug 11 2014