GBP/JPY - British Pound Yen, American Session - 19/11/08

19 November 2008 @ 05:57 am EDT

145,39. There is an horizontal range between 143,90 and 146,10. Support and resistance are given by Bollinger bands. GBP JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
146,40 - 147,40
Supports
143,40 - 140,30

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