Daily Technical Stategist GBPJPY

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Friday, 25th of Nov, 2011
DAILY TECHNICAL STRATEGIST EURUSD
FXTechstrategy Team
info_at_fxtechstrategy.com
GBPJPY Breaks The 119.94 level, Set To Weaken
Further . GBPJPY With the 119.94 level, its
Oct 182011 taken out following its early morning
trading today, further declines is likely in the
days ahead. A hold below the 119.94 level will
set the stage for further weakness towards the
116.78 level and possibly lower towards the
115.00 level, its psycho level. Its daily and
weekly RSI are bearish and pointing lower
supporting this view. Alternatively, the pair
will have to break and hold above the 127.30/21
levels to halts its bear threats and bring
further strength towards the 128.85 level, its
Aug 082011 high and subsequently, the 130.78
level, its Aug 042011 high. All in all, the
cross faces further bear threats as it continues
to weaken. To read the full version of this 7
model currency analysis click here FXT Technical
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