Have a look at the weekly chart of GBPJPY. You can clearly see that 150 has proved to be a very tough resistance, as expected. Unless that resistance is well and truly broken, we will be ranging with a bearish bias. Switching down to the daily charts, we find that GBPJPY closed below its important support at 146.8. If this break of support holds, then we could revisit 145 and then 143.5 in the upcoming week.
This is one of the pair I am looking to trade consistently.. Based on the daily chart, if it breaks below 145.80 (MA20), It will slip all the way up to since there is no support found 143..
ReplyDelete....to 142.22 several layers of support here but need to see it break thro 145.50 first!
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