GBPJPY Weekly Technical Outlook (16-20 March, 2015) | March 15, 2015

Gbpjpy fell rapidly after breaking support level at 180 area. On daily chart, this pair formed bearish signal after rejecting from 183.80 resistance level. On that level it has formed a bearish pin bar. Then it fell rapidly. On Friday, it broke 180.00 support area. Now this pair is stay below that level. So we can expect more down on this pair. We can wait for little retrace on this pair to take sell entry again on this pair. We can target 175 level.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 186.01

Resistance One (R1): 182.44

Pivot Point: 180.32

Support One (S1): 176.75

Support Two (S2): 174.63