7 Aug 2013
GBP/JPY, watch 149.81, 150.30 to sell s/t rallies - 2ndSkies
FXstreet.com (Barcelona) - GBPJPY failed at key 151.50 resistance, selling-off aggressively thereafter, with the lowest level for the week reaches just moments ago at 149.07.
According to Chris Capre, Founder at 2ndSkies: "The pair is now headed for key range support between 148.13 and 147.30 which is where the pair is likely headed first. Watch for intraday price action pullbacks towards 149.81 or 150.30 to sell short term rallies targeting the lower support levels. An hourly break and close above 150.60 will likely retest 151.30."
According to Chris Capre, Founder at 2ndSkies: "The pair is now headed for key range support between 148.13 and 147.30 which is where the pair is likely headed first. Watch for intraday price action pullbacks towards 149.81 or 150.30 to sell short term rallies targeting the lower support levels. An hourly break and close above 150.60 will likely retest 151.30."