The 61.8% Fibonacci blocks the GBP JPY 12/3/2013
Economies.com
2013-03-12 08:58AM UTC
The pair moved to the upside yesterday reaching 144.05 level, which represents 61.8% Fibonacci level (for the decline from 147.96 to 137.80), and we notice a slight bounce to remain within the upside channel
We still keep the positive overview for the coming period as long as the support 142.10 remains intact, to hit 144.90 and 145.30 levels, which is conditioned by breaching 61.8% Fibonacci level that forms an obstacle against the price rise.
Expected trading range is between 142.90 and 144.90
Expected trend: Bullish
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