Morning Report

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gbpjpy27

From the classic technical analysis point of view, the pair's trading above the MA 20 while the stochastic oscillator is providing positive intersection with the MACD, pointing to the pair's ability to breach the main downside trend's resistance levels along with the MA 50 at 132.10. The candle structure above the MA 20 took the form of a continuation pattern, providing a valid base for an upside trend for today. Expectations remains valid as far as trading persist above the MA 20 levels.

The trading range for today is among key support at 128.75 and key resistance at 135.50.

The general trend over short term basis is to the downside targeting118.80as far as areas of 150.75 areas remain intact.

Morning Report

Weekly Report

Support131.20130.50129.80129.25128.75
Resistance132.00132.50133.15133.65134.25
RecommendationBased on the charts and explanations above, our opinion is buying the pair around 0.8180 targeting 0.8290 and stop loss below 0.8100 might be appropriate this week