On the
daily chart of the GBP/JPY we can see how the pair fell from the 163.87 to the
146.00. Once the price touched the 146.00 level, it bounces to the upside and
retraces very close to the 55 day exponential moving average, purple line,
around the 155.91. That level around the 55 day EMA may act as resistance and
the pullback may end around this zone. The price may bounce to the downside and
in such case, the first support that it could find is the 151.64. The low at
the 146.00 zone could also become support if the price reaches that area. Above
the 55 day EMA there are no visible or relevant resistances until the high at
the 163.87 level.
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Let's see what effect Brexit will have on it today.
ReplyDeleteIt could be at a good turning point.
ReplyDeleteGood point! I´ll be watching to those levels.
ReplyDeleteVery helpful assessment.
ReplyDeleteThe pair is pushing higher today.
ReplyDeleteGreat review!
ReplyDeleteA gap down.
ReplyDelete