GBPJPY Weekly Forecast Jul 28 2014

Outlook in GBPJPY remains on the upside as long as support 172.36 holds on a weekly closing basis , resistance comes at the 173.46/174.54 levels ahead of the 175.36 levels ( main) , a break would open 178.50 next , a halt is likely , but further upside will aim the 182.50 levels…

On the downside , main support comes at the  172.35 levels , stability above support levels will keep the bullish momentum intact , however ;sustained trading –  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 175.36 levels and possible higher  towards the 178.50   levels .Below 172.35  will reverse risks towards the 170.95/169.53   levels……

 

 

GBPJPY Weekly Forecast Jul 28 2014

 

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