The Pound
versus the Yen has kept a good uptrend and once it reached the 196.00 level on
the daily chart, it stopped there and bounced to the downside. The price
dropped more than 300 pips after the bounce and breaks below the 193.00 level.
At the same time the price breaks the bullish trendline indicating a possible
change in the trend. If the price keeps dropping, then the 190.00 may act as a
support. If the price goes back up, the 196.00 level may act again as
resistance.
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Very Good analysis.
ReplyDeleteGood point, I'll be watching.
ReplyDeleteWell spotted! Thanks for sharing it.
ReplyDeleteGood analysis! Will have it in mind!
ReplyDeleteThank you for the analysis!
ReplyDeleteExcellent analysis.
ReplyDeleteStill consolidating.
ReplyDeleteInteresting read!
ReplyDeleteVery useful information.
ReplyDelete