(GBP/JPY)


 

The pair is trading in a sideways pattern also since 25-1-08 providing that the pound will acquire further gains against the yen on the medium term. As long as the pair resides above the strong support which provides the pair with strong demand at 210.20, offers sterling more momentum to continue the upside wave as indicates by momentum and directional indicators. Ending the sideways move is expected in the upcoming week to set new direction for the pair as it departed the descending channel where its resistance was breached yesterday after setting above 213.60 prior to returning to reattempt that level.

 

Support211.70211.25210.75210.20209.50
Resistance212.65 213.20 213.80 214.45 214.85

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