GBP/JPY
The pair has been in an uptrend from 169.53 levels. In yesterday's session, it was moved to 61.8 fib levels. Today in Asia's session, it halted at 171.97 and moved to lower levels. As of now, the pair has taken the support from 50day SMA and 50.0 fib levels. The trading activity is fixed between 50.0-61.8 fib levels. The pair looks safe to buy above 171.35 for 172.35 and 172.75 levels. It also looks weak below 171.34 for 171.25, 170.50 levels.
For intraday , the pair favors selling at 171.45, 171.25 and 171 levels. The hourly momentum oscillators favors to sell side.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of GBP/JPY for June 05, 2014 . Thanks for your support on Technical analysis of GBP/JPY for June 05, 2014
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