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August 6, 2014

GBP/JPY Daily forex post August 6, 2014

Posted by: ffs @ 03:00 GMT Category: Daily Forex,GBP/JPY,Signals

GBP/JPY Technical view

Updated:  August 6, 2014 3:00:36 GMT
SPOT GBP/JPY Previous day OHLC
Open High Low Close Change
172.94 173.49 172.73 173.15 0.25
Today's Support and Resistance
Resistance
Support
R3 174.00
R2 173.60
R1 173.30
S1 172.70
S2 172.30
S3 171.00

Sterling inched higher after a volatile session, versus the yen on Tuesday., which saw the pair oscillate between key trendline supports at 172.70 and resistances at 173.60 yen. The trend for now remains bullish, with key supports at 172.30- 172.70, where the downside is likely to be capped. However, if the pair settles below the supports, we could see a sharp decline to 171.00- 171.25

Trend direction

  • Short term: Bullish
  • Medium term: Bullish
  • Long term: Bullish

Trading Recommendations

  • Short:

    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION

  • Long:

    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
Post ID: 9745
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