GBPJPY Weekly Technical Analysis (18-22 May,2015) | May 16, 2015

Gbpjpy is facing resistance at 188.60 level. It can be good resistance for this pair. At the end of last week, this pair has rejected from that area. We can see bearish engulfing pattern on that level. So this is an indication of bearish momentum on this pair. So below this resistance area, we can look for sell on this pair. Above this resistance, we need to go for buy on gbpjpy


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 190.94

Resistance One (R1): 189.3

Pivot Point: 186.92

Support One (S1): 185.28

Support Two (S2): 182.9