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

Sentiment :

--- Follow up analysis ---
The pair GBP/JPY got out yesterday of its neutral zone 123.77/124.60 from the top, giving us a buy signal. Then, a strong bullish rallye occured and the price is currently testing the resistance at 126.

We continue to advise long positions as far as 125 is support. The breakout of 126 will give a new buy signal. A pullback on 125.50 stay possible, the pair could have the need to breath before taking up its movement. Next levels of resistances are at 126.50 and 127.

In case of return below 125, we will be neutral between this level and 124.60.

Analysis published by Bruno, the 09/07/2012 at 09h15 GMT+2

Full analysis

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