GBP/JPY Technical Analysis: Choppy Range Sub-195 in Play

| 13 augusti, 2015 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • GBP/JPY Technical Strategy: Flat
  • Support: 193.21, 192.37, 191.32
  • Resistance: 194.58, 195.82, 196.79

The British Pound continues to oscillate in a choppy range below the 195.00 figure against the Japanese Yen. Near-term resistance is at 194.58, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 195.69-82 area (50% level, June 18 high). Alternatively, a move below the 23.6% Fib at 193.21clears the way for a test of the 14.6% expansion at 192.37.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

GBP/JPY Technical Analysis: Choppy Range Sub-195 in Play

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

E-postadressen publiceras inte. Obligatoriska fält är märkta *