GBP JPY keeps the resistance level 20/12/2013
Economies.com
2013-12-20 08:50AM UTC
The pair continues to settle around the resistance level to keep the stability within the bullish channel as shown in the image, and we keep waiting forming new bearish correctional bias to reach 167.60 level to reach 165.30 level in the near term and medium term basis.
We remind you that stochastic continuation to show positive momentum that might push the price to breach the resistance line to continue hitting new positive levels, thus, we need to be careful for the trading around the upside channel’s resistance level.
Expected trading range is between: 171.20 and 169.50
Expected trend for today: bearish, conditioned by stability of 171.20 level
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