GBP/JPY technical levels and trading recommendations for June 13, 2013
June 13, 2013 4:45 pm
Overview
According to our yesterday’s expectations, the pair took a downward trend after it has managed to break the Support level 150.00 and currently is testing the Support level 147.50 trying to break it through to continue its bearish move. If the pair cannot break this support level and closes 4H above, it may reverse its bearish move to take an upward trend and reverse its downward move and we will get a good opportunity to buy again till it reaches the Resistance level 148.75 and closes 4H above as a level target. Then we should wait for breaking this Resistance level to continue the upward move and open the way towards the Resistance level of 150.00. On the other hand, if the pair continues its downward move and manages to break the Support level 150.50 and closes 4H below it, it may take a downward trend which will enable the Support level of 147.00 and cancels the bullish move scenario.
Resistance and support levels: R3 (151.00) R2 (150.00) R1 (148.75) S1 (147.50) S2 (147.00)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
According to our yesterday’s expectations, the pair took a downward trend after it has managed to break the Support level 150.00 and currently is testing the Support level 147.50 trying to break it through to continue its bearish move. If the pair cannot break this support level and closes 4H above, it may reverse its bearish move to take an upward trend and reverse its downward move and we will get a good opportunity to buy again till it reaches the Resistance level 148.75 and closes 4H above as a level target. Then we should wait for breaking this Resistance level to continue the upward move and open the way towards the Resistance level of 150.00. On the other hand, if the pair continues its downward move and manages to break the Support level 150.50 and closes 4H below it, it may take a downward trend which will enable the Support level of 147.00 and cancels the bullish move scenario.
Resistance and support levels: R3 (151.00) R2 (150.00) R1 (148.75) S1 (147.50) S2 (147.00)
The material has been provided by InstaForex Company – www.instaforex.com
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