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Technical analysis for crosses(GBP/JPY)-6/23/2008

29 Sep, 2008 @ 04:44 am EST

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(GBP/JPY)
The Pound against the Yen retreated last week from the 213 levels since it represents strong resistance for the pair, the pair declined as a result to the strong supports within the 211 levels, now the 211.23 offers strong demand for the pair supported as well by the fact that the pair is entering an oversold area on intraday and short term basis, this should provide the pair with strong upside momentum to retest the 213.05 resistance.
Support	211.63	211.23	210.73	210.27	209.73
Resistance	212.12	212.66	213.05	213.49	213.86
Recommendation	...

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