GBPJPY - Weekly Strategy (28 Jan - 01 Feb 2013)

Pivot: 142.62

Recommendation: LONG positions above 142.62 with 143.50 & 144.80 as next targets.
Alternative scenario: The downside breakout of 142.62 will open the way to 141.37/139.25.
Comment: As long as the key support 142.62 holds, more gains to 143.50/144.80 levels are suggested, break of the key resistance 144.80 will advance the pair to 148.23 levels,while break of the key support 142.62 will call for a rebound to 141.37/139.25 but downside below 142.62 is supposed t be contained well above 139.25 to bring another rally to 144.80 levels, If 139.25 fails, expect the pair to weaken further to 136.00 levels..

Best Regards

Haitham

Views: 456

Tags: GBP/JPY, GBPJPY

Comment by Haitham653 on January 27, 2013 at 12:19pm

Simply we buy above 142.62 with tight stop below this level, If 142.62 fails, we can go long above 141.37 with target to 144.80 and higher !!!!

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