GBP/JPY Weekly Technical Report 21-25/10/2013
ecPulse
2013-10-21 07:35AM UTC
The pair is still trending higher approaching the broken key support –now resistance- currently at 158.85. The MA 50 is still offering support for GBPJPY from below alongside positivity on Stochastic. Therefore, we expect the positive bias to prevail this week targeting a retest of 159.90 areas opening way towards 162.00 areas which requires stability above 157.05.
**Trading range expected this week is between the key support at 157.05 and key resistance 162.00
**Short-term trend is to the upside, targeting 163.00 as far as 147.65 remains intact
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