GBP/JPY Weekly Technical Report 25/2-1/3/2013
ecPulse
2013-02-25 07:06AM UTC
Trades this week kicked off as the GBP/JPY pair settles below the neckline of the negative technical pattern, which was verified by breaking the ascending channel, as shown on the graph. 142.50 represents a key interval as long as trades remain below it. However, any trading below 144.65 maintains downtrend available this week.
– The trading range expected this week is between the key support at 139.10 and the key resistance at 145.60
– The short-term trend is downside targeting 112.00 if 150.00 remains intact
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