GBP JPY attempts to breach the channel 19/11/2012
Economies.com
2012-11-19 08:22AM UTC
The pair stabilized in Fridays’ trading around the breached channel level at 129.20 attempting to breach this level to witness a bullish trend again within the bullish channel reaching to 130.70
129.60 is considered as a resistance that might be a barrier against the pair return inside the channel as interpreted in the chart, therefore, we must be aware that the bullish bias still continuing but if the price failed in breaching the mentioned level there will be a potential correction.
Stochastic settled inside the overbought level which supports the bullish bias until now.
Expected trading range for today is between: 128.80 and 130.50
Expected trend for today: Bullish
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