GBPJPY Weekly Forecast Sept 08 2014

Outlook in GBPJPY remains on the downside as long as resistance 170.87  holds on a weekly closing basis , support comes at the 169.53 levels , a clear break below this level will pave the way towards the 167.70 levels , further losses will aim the 166.57/165.85 levels..

On the upside , a clear break (sustained trading) above 170.87  levels will turn outlook neutral for retesting the 172.51/173.95 levels before the next fall , If this important resistance is taken out , the pair will have large bullish implication towards the 179.18 levels.

In all , as long as resistance 170.87 holds on a weekly closing basis , outlook in GBPJPY remains on the downside towards the 169.53/167.00  levels , above the 170.87 levels will reverse risk towards the 172.51/173.95  levels before the next possible fall…..

 

GBPJPY Weekly Forecast Sept 08 2014

 

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