GBPJPY -- 8-week triangle breakout points higher
GBPJPY 184.42 – bullish – 8-week triangle breakout points higher
GBPJPY rallied off 180.66 (September 28, 2015 weekly low) near the 12-month rising channel support (as shown on the weekly chart) to break above the triangle resistance (linking 195.27/188.27 weekly highs) to signal further bullish momentum towards 185.01 (February 23, 2015 weekly high) near the 50-week moving average. Clearance above there would open the 188.27 ceiling (September 14, 2015 weekly high). Support lies at 181.84 (October 12, 2015 weekly low). Below there would re-focus 180.66.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
GBPJPY rallied off 180.66 (September 28, 2015 weekly low) near the 12-month rising channel support (as shown on the weekly chart) to break above the triangle resistance (linking 195.27/188.27 weekly highs) to signal further bullish momentum towards 185.01 (February 23, 2015 weekly high) near the 50-week moving average. Clearance above there would open the 188.27 ceiling (September 14, 2015 weekly high). Support lies at 181.84 (October 12, 2015 weekly low). Below there would re-focus 180.66.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
