GBP JPY is in tight range 8/8/2013
Economies.com
2013-08-08 08:48AM UTC
The pair rallied suddenly in yesterday’s trading achieving 147.60 to return to settle above the support level 148.10 which is supported by 23.6% Fibonacci, to notice the stability of the price in tight range between the moving average and the support level, thus we recommend monitoring the trading for today until breaching one of the previous levels.
We should mention that the stability of the support level will push the price to breach the moving average and resume the positivity to visit 151.80, while breaking below the previous support will make a negative scenario begin by achieving negative levels that start at 146.20
Expected treading range is between 148.00 and 150.00
Expected trend for today: neutral
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