GBP JPY negotiates the moving average 12/11/2012
Economies.com
2012-11-12 08:44AM UTC
The pair continued to decline recently reaching the moving average level at 126.00, this level keeps facing the price to stop the bearish trend.
We expect visiting 125.75 level maximum so that the main trend will remain positive as long as the main support of 124.60 remains intact.
The moving average is slowing down the negative actions to support the main upside bias.
Expected trading range for today is between: 125.75 support and 127.60 resistance.
Expected trend for today: Bearish on the intraday basis, while bullish on the longer term
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