GBPJPY Weekly Technical Analysis (23-27 March,2015) | March 22, 2015

Gbpjpy is staying below 100 EMA on daily chart. This pair has rejected from that ema on daily chart. So we can use this as good resistance level. If we see on daily chart, it is now on ranging mode. There is no clear direction on this pair at this moment. So for taking entry, we can wait for breakout of this breakout range. 177.50-180-50 area is ranging zone right now for this pair. If it can break in upside, then we can get bullish movement on it. On the other hand, if it can break in the lower side, then we can see bearish rally continuation on gbpjpy.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 182.92

Resistance One (R1): 181.15

Pivot Point: 179.16

Support One (S1): 177.39

Support Two (S2): 175.4