|GBP/USD Intraday Technical Analysis|
|USD/JPY Intraday Technical Levels for June 26, 2012|
The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.2520 and seems to initiate a decline. However, a break through these levels will release good potential and the price will be able to reach the upper limit of this one -1.2610.
Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.2520 with the 1st objective at 1.2580 and then at 1.2610. A break through 1.2500 will invalidate this scenario.
Albert Fitoussi is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.
Analytical expert: Albert Fitoussi
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