FX.co ★ GBP/JPY Expect a Break Trend Line, February 21, 2011 (Daily Strategy)

GBP/JPY

The pair British Pound - Japanese Yen recorded an upward trend since early 2011, when he was still at low levels 125.50 minimum. On the eve of the weekend, the pair British Pound - Japanese yen reached an important crossroads to encounter strong resistance level of 135.20, which succeeded for the time to stop the positive momentum of the pair when the other side can identify the level of support from the trend line than about the pair below. A clean break of the trendline at 134.70, representing an indication of negative moment, which may eventually lead the pair to support the significant level of 129.92 yen per British Pound.