GBP/JPY Weekly Technical Report 19-23/11/2012
ecPulse
2012-11-19 07:16AM UTC
The pair made a second upside attempt to touch the 129.05 level, and the upside wave continues to take advantage of the bullish Harmonic Bat Pattern, in line with stability above Linear Regression Indicators. Our positive expectations remain valid as far as 126.85 remains intact, and 127.80 level holds for today.
The trading range expected is between the key support at 126.85 and the key resistance at 130.35 .
The short-term trend is to the downside targeting 112.00 as far as 150.00 remains intact.
Weekly Report
Support 128.40 127.80 127.35 126.85 126.15
Resistance 129.05 129.75 130.00 130.35 130.80
Recommendation Our previous expectation is activated and remains intact.
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