FX.co ★ GBP/JPY technical levels and trading recommendations for September 10, 2013

Overview

As it was expected last week, more bullish signals would be expected in case of closing above the Resistance level of 156.00. Today, as it is shown in the H4 chart, the pair has already managed to break the Resistance level and close 4H above. It is keeping its move inside the bullish channel. Currently, the pair is approaching the Resistance level of 157.20 trying to break it through to continue the upward move. More bullish signals would be expected in case of closing 4H above this Resistance level with first target few pips below the Resistance level of 158.00 then 158.30 as the second target.

Resistance and support levels: R3 (158.30), R2 (158.00), R1 (157.20), S1 (156.00), S2 (155.60), S3(155.00).