GBPJPY Technical Analysis (5-9 January,2015) | January 3, 2015

GBPJPY failed to break 187.50 and then fall from that resistance area. This pair is now staying 23.6 fibo. If we draw fibo from 168.01 to 189.75, then we can see 23.6 is at 184.62. Near-term support is also staying on this level. If this pair break this level, then we can see more down rally upto fibo 38.2 level. Fibo 38.2 lies on 181.45 where we can see some support for this pair. This fibo level conbined with support area is very good zone for buy. As this pair is on uptrend, we can take buy from this buy zone.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 189.18

Resistance One (R1): 186.89

Pivot Point: 185.55

Support One (S1): 183.26

Support Two (S2): 181.92