GBPJPY Weekly Technical Analysis (13-17 April, 2015) | April 11, 2015

Gbpjpy has touched its very strong support area. Next week will be very critical for this pair. We can see breakout of this level. After breakout we can see rapid falling on this pair. So we need to wait for breakout on 175.70 area. With the daily candle, it seems that this pair has got back bearish momentum again after rejecting from near term resistance at 179.10 area. After rejection, it formed a bearish engulfing which indicates sell signal on gbpjpy.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 180.5

Resistance One (R1): 178.14

Pivot Point: 176.89

Support One (S1): 174.53

Support Two (S2): 173.28