GBP/JPY : Looking for a clear trend
--- New analysis ---
The major support at 125 has allowed last week a rebound of the pair GBP/JPY who retraced almost all the last bearish movement. Currently, the price is testing the resistance at 127.
We are neutral between the support at 126.09 and the resistance at 127. We advise to wait an exit of this range to take position:
- Long above 127. A test of the resistance at 127.75 should be then expected (this level matches with the lower band of the bullish channel).
- Short below 126.09. We will then target a new test of the support at 125.
Analysis published by Bruno, the 10/16/2012 at 9h00 GMT+2
Chart of the pair GBP/JPY - Timeframe 4H
Chart of the pair GBP/JPY - Timeframe 1H
|GBP/JPY Live Chart - Timeframe : 4h|
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