GBPJPY attacks key resistance level – Technical Analysis – 17-11-2015

The GBPJPY rose recently supported by the positive moving average 50, trading inside a short term ascending channel, after gathering positive momentum that followed leaning on this channel, to reach 187.32 key resistance and bounce bearishly from there, signaling the attempt of gathering positive momentum that will assist it to breach this level and continue the rise, accompanied by draining the clear overbought signals that appear on the relative strength indexes.

Thus, our positive outlook will continue for the coming trading, especially after breaching 187.32 resistance, targeting 188.25 key resistance directly.