GBP/JPY technical levels and trading recommendations for May 10, 2013
May 10, 2013 10:45 am
Overview
From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level 154.00 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area 154.00-155.00. Currently, the price is trading below the resistance level 156.70. More bullish signals are still expected in case of closing above this resistance level with first target few pips below the resistance level 157.50, hence we should wait for more confirmations before making the decision.
Resistance and support levels: R2 (157.50) R1(156.70) S1 (155.80) S2 (155.00) S3 (154.00)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level 154.00 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area 154.00-155.00. Currently, the price is trading below the resistance level 156.70. More bullish signals are still expected in case of closing above this resistance level with first target few pips below the resistance level 157.50, hence we should wait for more confirmations before making the decision.
Resistance and support levels: R2 (157.50) R1(156.70) S1 (155.80) S2 (155.00) S3 (154.00)
The material has been provided by InstaForex Company – www.instaforex.com
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