GBPJPY Weekly Forecast Mar 10 2014

The GBPJPY continued its bullish momentum last week , printed support at the 168.82 levels . This development leaves the pair targeting the 176.30 levels , a halt is likely , but break of the 176.30 levels will open 180.00 next , further out will aim the 183.50 levels.

On the downside , minor support comes at the 170.97 levels , stability above this level will keep pushing towards the 176.30 levels , losing the 170.97 levels will open main support 168.82 before the next rise , losing the 168.82 will turn outlook neutral  and open 163.86 levels before the next possible rise.

In all , as long as support 168.82 holds on a weekly basis , the GBPJPY will remain based to the upside towards the 176.30 levels ahead of the 180.00 levels , losing the 168.82 levels will reverse risks towards the 163.86 levels.


GBPJPY Weekly Forecast Mar 10 2014