GBP/JPY technical levels and trading recommendations for June 12, 2013
June 12, 2013 4:00 pm
Overview
As it was expected yesterday, the price closed 4H below the support level of 151.00 that gave a new opportunity for more bearish signals today. As shown, the price has already broken 151.00 and now is testing the support level of 150.00. Closing below this level again may give us more sell signals till the price tests the support level of 149.20. So we can consider our first target a few pips above this support level then 149.50 as the second level. But we should wait for breaking 150.00 and closing 4H below before making a decision. But the price’s closing above the support level of 150.00 cancels the bearish move scenario.
Resistance and support levels: R3 (153.85), R2 (153.00), R1 (152.00), S1 (151.00), S2 (150.00), S3 (149.20).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
As it was expected yesterday, the price closed 4H below the support level of 151.00 that gave a new opportunity for more bearish signals today. As shown, the price has already broken 151.00 and now is testing the support level of 150.00. Closing below this level again may give us more sell signals till the price tests the support level of 149.20. So we can consider our first target a few pips above this support level then 149.50 as the second level. But we should wait for breaking 150.00 and closing 4H below before making a decision. But the price’s closing above the support level of 150.00 cancels the bearish move scenario.
Resistance and support levels: R3 (153.85), R2 (153.00), R1 (152.00), S1 (151.00), S2 (150.00), S3 (149.20).
The material has been provided by InstaForex Company – www.instaforex.com
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