GBP/JPY Weekly Technical Report 29/7-2/8/2013
ecPulse
2013-07-29 08:10AM UTC
The GBP/JPY pair broke the bullish channel's support and is now residing below the Moving Average 50. That indicates a potential alteration in the intraday trend to bearishness. The price would head to test key 147.65 zone. The positivity on momentum indicators could bring some volatility before the price heads to the first suggested target, whereas breaching 152.65 would empower the pair's return to the bullish trend once more.
**Trading range expected this week is between the main support at 147.65 and the main resistance 152.65.
**Short-term trend is upside targeting 163.00 if 147.65 remains intact.
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