GBP/JPY Weekly Morning Technical Report 17/12/2013
ecPulse
2013-12-17 10:45AM UTC
The pair is fluctuating sideways and within a tight range since yesterday, still between the trend defining barriers at 167.45 support and 169.05 resistance. The pair must breakout from the range to confirm the next move and accordingly we will stay on the sidelines. Breaching 169.05 resistance will revive the general uptrend targeting areas from 171.00 while a breakout below 167.45 support will force the pair lower targeting areas from 165.85.
**Trading range expected today is between the key support at 166.85 and key resistance 170.00
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