GBP/JPY Weekly Technical Report 15-19/4/2013

The GBPJPY pair maintains the downside correctional bias, where we may see a retest of 148.00 previous high, which should form a support for the ongoing bullish trend, and thus price may attempt to resume the bullish trend. We may see further downside attempts towards 148.00 over intraday basis, however should start to see attempts to resume the rally during the week.

** Overall trend ( More than one year)

** Intermediate ( More than three months)

** Short term ( Less than three months)

** Chart is based on GMT+2 timing

Notes: 

*if price reaches more than 80% of target before triggering entry, signal is canceled and not valid anymore.

*Allow for +,- 5 points margin