Updated the:
GBP/JPY : Wait the exit of the range 123.77/124.60

Sentiment :

Since several days, the pair GBP/JPY is moving between the major support at 123.77 and the resistance at 124.60. Currently, the price is testing the resistance. We are neutral between these two levels and we continue to advise to wait for an exit of this range to take position. Two scenarios are possible:

- Breakout of the major support at 123.77 : A sell signal will be given and a bearish wave towards 123 should be then expected
- Return above 124.60 : A buy signal will be given. We could then expect a new test of the resistance at 125.50.

Analysis published by Bruno, the 09/04/2012 at 09h00 GMT+2

Complete sheet of the pair GBP/JPY - Previous GBP/JPY Analysis
Chart of the pair GBP/JPY - Timeframe 4H
Chart of the pair GBP/JPY - Timeframe 1H
GBP/JPY Live Chart - Timeframe : 4h