On the
daily chart of the GBP/JPY we can see that the pair made a pullback to the
157.49 level from where it bounces to the downside and the bearish momentum
accelerates. The breakdown below the 151.64 level has taken the price to the
150.00 zone from where it may try to bounce to the upside. For now, the 151.64
level may act as its firs resistance, but above that level we have the 157.49
and the 163.87, which could also act as resistances. Below the 150.00 level,
its next support may be the 149.00 level.
Good point! I´ll be watching to those levels.
ReplyDeleteIt seems it found some support at 149.50.
ReplyDeleteThank you for the analysis.
ReplyDeleteGreat daily note, thank you.
ReplyDeleteThe pair is still quite bearish on the larger time frames.
ReplyDeleteGreat analysis!
ReplyDelete