GBP/JPY Weekly Technical Report 18-22/3/2013
ecPulse
2013-03-18 06:49AM UTC
The GBPJPY pair has marked 145.85 a key resistance, after it was rejected last week from this level, and followed-up with a major bearish gap today. The pair has broken the short term ascending trend line that carried the recent rally as shown on image, in addition to breaking the 50-days SMA as well, although it's still an intraday break, where a daily closing below the average today may confirm further downside. Accordingly, our bias is to the downside this week.
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