GBP Trading Outlook (11-09-2015)

Medium Term Strategy: Forex Pair of the day

GBP/JPY – under pressure
The pair has broken below the strong support at 185 and below the 200-days moving average and is currently posting a pull back. Moreover, the daily RSI stands below its neutrality area. Then, as long as 191 holds as a resistance, targets on the downside are set at 179.40 at first (horizontal support) and at 175 in extension. A third target is set at 169.50 (strong horizontal support). Only a rebound above the resistance at 191 would turn the outlook to bullish with a first alternative target is set at 196 (June top) and a second one set at 201.60 (Fibonacci projection).
Back to GBP Trading Outlook Archive

join THOUSANDS OF other people
who trade with easymarkets

Two minutes is all it takes.

You're almost there!

Finish your application and start trading today.

DON'T MISS A TRADING OPPORTUNITY

Two minutes is all it takes.