GBP/JPY technical levels and trading recommendations for July 01, 2013
July 1, 2013 2:00 pm
Overview
From the today’s H4 chart, we find that the pair opened this week above the Support level 150.80 and below the Resistance level 152.00 and took its upward move, as expected last week. Currently, it is approaching the Resistance level to continue its bullish trend. Given that the pair continues its bullish movement and closes 4H above the Resistance level, it would be another opportunity for more bullish signals with first target few pips below the Resistance level 152.40, then we should wait for breaking above this Resistance level to get more bullish signals towards the Resistance level 153.15 as the second target. But as long as the price is trading below the Resistance level 152.00 and cannot break it through, this cancels the bullish scenario.
Resistance and support levels: R3 (153.15) R2 (152.40) R1 (152.00), S1 (150.80), S2 (150.00), S3 (149.35).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
From the today’s H4 chart, we find that the pair opened this week above the Support level 150.80 and below the Resistance level 152.00 and took its upward move, as expected last week. Currently, it is approaching the Resistance level to continue its bullish trend. Given that the pair continues its bullish movement and closes 4H above the Resistance level, it would be another opportunity for more bullish signals with first target few pips below the Resistance level 152.40, then we should wait for breaking above this Resistance level to get more bullish signals towards the Resistance level 153.15 as the second target. But as long as the price is trading below the Resistance level 152.00 and cannot break it through, this cancels the bullish scenario.
Resistance and support levels: R3 (153.15) R2 (152.40) R1 (152.00), S1 (150.80), S2 (150.00), S3 (149.35).
The material has been provided by InstaForex Company – www.instaforex.com
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