GBP/JPY : Towards a test of the psychological level at 130?
--- New analysis ---
The pair GBP/JPY made several test of the support at 127 before to reach our objective at 128.70 (high of September). This level is currently tested as resistance. The price continues to move below the lower band of its former medium term bullish channel (black lines). On the short term, a bullish slant also appeared (purple lines).
We continue to advise long positions as far as 127.75 is support. The breakout of 128.70 will give a new buy signal and will open the way towards 129.50 and the psychological level at 130 in extension.
In case of return below 127.75, we will be neutral between this level and 127.
Analysis published by Bruno, the 10/25/2012 at 9h30 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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