Morning Report

gbpjpy

Despite of the sideways wave; we can see that sterling did not exit the symmetrical triangle CT,which makes us withhold our expectations for a possible upside break to end the D wave. Stochastic and RSI are both trading neutrally above 50.

The trading range for today is among key support at 144.10 and key resistance at 154.00.

The general trend is to the downside as far as 167.40 remains intact with target at 116.00.

Support149.55149.10148.80147.85147.00
Resistance150.00150.75151.25151.75152.30
RecommendationBased on the charts and explanations above our opinion is buying the pair from 149.75 targeting 150.75 and stop loss below 149.05might be appropriate