by Fri, 09 Apr 2010 03:40:00 +0200
GBP/JPY sneaks higher capped at 143.10
FXstreet.com (Barcelona) – Following the violent reversal on Thursday, the pair edged further up halted at 143.10 to slightly retreat now towards 142.90 area. The pair suffered a drastic change of direction once it hit intra-day low at 140.90 zone on Thursday. The rebound led the price to climb more than 70 pips closing at 140.60 level.
From a technical perspective, analysts at 4CAST conclude: “Corrective pullback extended to 140.93 low last session and strong rebound from the latter in the appearance of a long lower shadow is shifting focus towards upside, targeting 143.80 resistance. This should attract buyers into intra-day trading with support seen at 142.42 ahead of 141.80”.
| Technical Analysis (2010-04-09 01:33 GMT) | |
|---|---|
GBP/JPY 142.91/142.97 - O: 142.84 H: 142.97 L: 142.8 C: 142.92 | |
| Trend | R3: 143.63 |
 | R2: 143.27 |
| R1: 142.92 | |
| S1: 141.95 | |
| S2: 142.31 | |
| S3: 142.67 | |
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