GBPJPY Weekly Technical Analysis (4-8 May, 2015) | May 2, 2015

After long bullish rally, gbpjpy find resistance at 184.40 area. On that resistance it has been rejected and then it started falling. On daily candle we can see big bearish rejection candle which indicates that this pair has got back some bearish power. It seems that GBP currency is little weak compare to others. So we can stay sell position on this pair and target will be 180.20 area. This level is dynamic support level for this pair. If we find bullish candle on this level, then we can go for buy again.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 186.37

Resistance One (R1): 184.12

Pivot Point: 182.20

Support One (S1): 179.95

Support Two (S2): 178.03