6 Mar 2015
GBP/JPY short-term bullish – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team gives the technical outlook and key levels for GBP/JPY, maintain a bullish outlook on the pair in the short-term.
Key Quotes
“.. the British pound is prolonging its excellent performance against the Japanese yen initiated 3 years ago.”
“Technically the pair is trying to bounce from the bottom side of a channel and we can consider the short trend as bullish while this line is not broken.”
“Only if this happen, we could think in a backward movement to lower levels, identifying two important supports placed at 181.60 and 180.30. However, if the uptrend continues like now, the first resistance to reach would be located at 183.60.”
Key Quotes
“.. the British pound is prolonging its excellent performance against the Japanese yen initiated 3 years ago.”
“Technically the pair is trying to bounce from the bottom side of a channel and we can consider the short trend as bullish while this line is not broken.”
“Only if this happen, we could think in a backward movement to lower levels, identifying two important supports placed at 181.60 and 180.30. However, if the uptrend continues like now, the first resistance to reach would be located at 183.60.”