GBP/JPY technical levels and trading recommendations for December 11 , 2013
December 11, 2013 3:45 pm
Overview
It was expected yesterday that the price would continue its bearish move in case of breaking the support level 168.60 and closing below it. Today and as shown on the H4 chart, the pair has already broken this support area and currently is trading below to continue its bearish trend.Therefore, we suggest more bearish signals now with the first target few pips above the support level 167.40, then we should stop till testing this support level. In case of closing below this level, this gives us a new opportunity for more bearish move till reaching the support level 166.25 and closing below it.
Resistance and support levels: R3 (170.00) R2 (169.40) R1 (168.60), S1 (167.40), S2 (166.25), S3 (165.30).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
It was expected yesterday that the price would continue its bearish move in case of breaking the support level 168.60 and closing below it. Today and as shown on the H4 chart, the pair has already broken this support area and currently is trading below to continue its bearish trend.Therefore, we suggest more bearish signals now with the first target few pips above the support level 167.40, then we should stop till testing this support level. In case of closing below this level, this gives us a new opportunity for more bearish move till reaching the support level 166.25 and closing below it.
Resistance and support levels: R3 (170.00) R2 (169.40) R1 (168.60), S1 (167.40), S2 (166.25), S3 (165.30).
The material has been provided by InstaForex Company – www.instaforex.com
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