GBP/JPY Weekly Technical Report 7-11/10/2013
ecPulse
2013-10-07 07:45AM UTC
GBPJPY trading settled below the support of the ascending channel opening way for the downside correction as provided on the graph. The downside move targeting initially a breakout below 155.20 to extend the move towards 152.30. Therefore, the downside bias this week is likely as long as the pair does not breakout and hold above 156.75.
**Trading range expected this week is between the main support at 152.30 and the main resistance 157.70
**Short-term trend is to the upside, targeting 163.00 as far as 147.65 remains intact
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