GBP/JPY - Daily technical analysis

By IBTimes Staff Reporter | April 13 2010 10:21 AM

The pair is performing a bullish rebound, after consolidating with the 50 days MA. Right now, it trades at 143.41 yens per pound. The price is breaking the lower band of Bollinger, indicating a possible correction to the middle band, while the 14 days RSI is on a neutral zone. On the 4H chart, the price finds support at the upper band of the Ichimoku Kumo, while investors wait for the interception of the base and divergence averages to take positions. The 50 days MA is under the pair and the Bulls are on positive ground, indicating a long entry moment. Above, the next resistance is found at 143.63, while the support below is found at 143.03 yens per pound.

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