GBPJPY still sideways – Analysis – 29/7/2014

The GBPJPY still affected by the sideways trading to notice the weakness of forming any new wave until now due to the lack of the negative momentum, thus, we expect limiting between the initial resistance 173.60 and 172.50 support until the price breaches one of these levels.

Therefore, we recommend to monitor the trading to avoid any sudden moves until the price detect the next trend clearly.

Expected trading range is between: 173.60 and 172.50

Expected trend for today: Sideways