19 Nov 2014
GBP/JPY may retest 184.60 levels - FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst Omkar Godbole sees GBP/JPY re-testing 184.60 level if it manages to confirm a breach of the resistance at 182.40.
Key Quotes
“The GBP/JPY pair ended higher yesterday at 182.77, although the pair could not sustain gains at the day’s high of 183.345. Moreover, the pair faced rejection near 183.40 levels for the second consecutive yesterday.”
“GBP/JPY currently trades at 183.25 levels, with the daily RSI bullish at 68.09 levels.”
“Meanwhile, on the hourly chart, the pair is once again faced rejection near 183.40 levels today. However, a fresh selling pressure can be anticipated only if the pair breaches the support located at 183.00 levels. In such a case, the downside appears restricted around 182.25 levels.”
“On the other hand, the pair may re-test 184.60 levels, if the pair manages to confirm a breach of 182.40 resistance level on the hourly chart.”
Key Quotes
“The GBP/JPY pair ended higher yesterday at 182.77, although the pair could not sustain gains at the day’s high of 183.345. Moreover, the pair faced rejection near 183.40 levels for the second consecutive yesterday.”
“GBP/JPY currently trades at 183.25 levels, with the daily RSI bullish at 68.09 levels.”
“Meanwhile, on the hourly chart, the pair is once again faced rejection near 183.40 levels today. However, a fresh selling pressure can be anticipated only if the pair breaches the support located at 183.00 levels. In such a case, the downside appears restricted around 182.25 levels.”
“On the other hand, the pair may re-test 184.60 levels, if the pair manages to confirm a breach of 182.40 resistance level on the hourly chart.”