Great British Pound vs. Japanese Yen (2011-04-12)

By @ibtimes on

Midday Report

The pair is presently attacking the middle line of keltner channel as seen on the provided four hour chart. The negative signs discussed in details this morning might be able to send the pair to the second technical objective of the bearish harmonic butterfly pattern at 61.8% of CD leg. Henceforth, we hold onto our morning predictions for the rest of the day, supported by the negative signs of momentum indicators.

The trading range for today is among key support at 132.50 and key resistance at 140.00.

The general trend over short term basis is to the downside targeting 118.80 as far as areas of 150.75 areas remain intact.

Morning Report

Weekly Report

Support136.20135.50135.00134.00133.60Resistance137.30137.80138.90139.25139.75RecommendationOur morning expectations remain valid.

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