GBPJPY Weekly Technical Analysis (11-15 May,2015) | May 9, 2015

Gbpjpy is continuing it bullish rally after forming pin bar on daily chart. This pair has broken its resistance level. Now it seems that this pair can continue its bullish momentum. 184.50 area is now near term support for this pair. If it can stay above this level, then we can expect bullish rally again on this pair and target will be 187 area and then 190 area.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 189.09

Resistance One (R1): 187.04

Pivot Point: 183.99

Support One (S1): 181.94

Support Two (S2): 178.89