GBPJPY Weekly Forecast Mar 03 2014

Outlook in GBPJPY is neutral with risk to the downside towards the 168.00 levels as long as resistance 171.86 holds on a weekly basis  , sustained trading below the 168.00 levels will open the 163.86 next.

On the upside , break of 171.85 on a weekly basis will confirm bottoming at the 163.86 levels , If seen , the pair will recapture the 174.83 levels ,  sustained trading above this level will open 180.00 next.

In all , as long as 171.85 holds on a weekly basis , the GBPJPY is likely to return to its medium term downside bias , with risk towards 163.85 ahead of 160.00 levels , break of 171.85 will reverse risks towards the 174.83 levels  and possible higher.

 
GBPJPY Weekly Forecast Mar 03 2014

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