GBPJPY Weekly Forecast Jun 16 2014

The GBPJPY  continued it bullish momentum last week ,topped at the 173.35  levels and printed support at the 170.95  levels .This development leaves the pair targeting the 175.95 levels , a halt is likely , but a break would open 179.25  next , further upside will aim the 182.85 levels.

On the downside , support comes at the 172.25  levels ahead of 170.95  ( main) , stability above support levels will keep the bullish momentum intact , however ; losing the 170.95  levels on a weekly closing basis will reverse risks towards the 169.53/168.11  levels , before the next possible rise.

In all , as long as support 170.95  holds on a weekly closing basis , outlook in GBPJPY  remains on the upside towards the 175.95 levels ahead of the 179.25  levels .Below 170.95 will reverse risks towards the 169.53/168.11  levels……


GBPJPY Weekly Forecast Jun 16 2016