GBPJPY Weekly Forecast Jul 07 2014

The GBPJPY  continued it bullish momentum last week ,topped at the 175.36  levels and printed support at the 172.36  levels .This development leaves the pair targeting the 178.50  levels , a halt is likely , but a break would open 182.50  next , further upside will aim the 186.85  levels.

On the downside , support comes at the 173.35 levels ahead of 172.35  ( main) , stability above support levels will keep the bullish momentum intact , however ; losing the 172.35  levels on a weekly closing basis will reverse risks towards the 170.95/169.53  levels , before the next possible rise.

In all , as long as support 172.35   holds on a weekly closing basis , outlook in GBPJPY  remains on the upside towards the 178.50   levels .Below 172.35  will reverse risks towards the 170.95/169.53   levels……


GBPJPY Weekly Forecast Jul 07 2014