Morning Report

gbpjpy20

The pair declined once again and failed to consolidate above 132.50; the pair seemingly is attempting to test the breached harmonic resistance. RSI provided a negative crossover and Stochastic is attempting to crossover positively within over bought areas; therefore, we remain neutral today due to the mixed signals.

The trading range for today is among key support at 129.00 and key resistance at 134.20.

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

Previous Report

Weekly Report

Support130.50130.00129.80129.00128.60
Resistance131.20132.00132.50133.15133.60
RecommendationBased on the charts and explanations above, we remain neutral and recommend observing the pair around 132.50 areas to confirm the continuation of our weekly expectations