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GBP/JPY Classical 03.29

GBP/JPY Classical 03.29

2011-03-29 05:31:00
Joel Kruger, Technical Strategist
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GBPJPY_CLassical_body_gbpjpy2.png, GBP/JPY Classical 03.29

GBP/JPY:As per our analysis in previous weeks, dips towards the multi-week range lows in the 125.00 area continue to be very well supported, with the market adhering to the defined range. Ultimately, a weekly close back above 137.80 or below 125.00 will be required to force a major shift in the structure. In the interim, we remain sidelined.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

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