The GBP/JPY
has fallen rapidly during Friday’s session after the Bank of Japan disappointed
the markets by implementing a lower than expected stimulus package, which made
the Yen rally versus its major peers. The pair has reached the 135.00 level
where it stalls, but the bearish momentum may stay in place and it is possible
to see a breakdown of that level for the next couple of trading sessions. If
the pair does break below the 135.00 level, then it may reach the 132.00 or the
low at the 128.67 level. If the pair bounces to the upside, then the first
resistance could be the 139.00 level or the 55 day exponential moving average,
purple line.
It broke below that level and the move to the downside continues.
ReplyDeleteThank you for the assessment.
ReplyDeleteInteresting analysis!
ReplyDeleteGood post. Very helpful.
ReplyDeleteIt was interesting to read! Thanks a lot!
ReplyDeleteImportant information, will keep it in mind!
ReplyDelete