GBP/JPY Weekly Technical Report 11-15/3/2013
ecPulse
2013-03-11 07:14AM UTC
GBP/JPY rose and settled above 142.50, beyond which stability could sustain the uptrend in an attempt to retest the ascending channel's key support now resistance. However, note that Stochastic is projecting a downside bias that if the pair returns back below 142.50, it will thwart the positivity, sending the pair into a fresh bearish wave.
– The trading range expected this week is between the key support at 139.10 and the key resistance at 146.35
– The short-term trend is downside targeting 133.60 if 147.80 remains intact
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