The GBP/JPY
has been falling rapidly during the last few days and it has reached the 131.00
round number level where it stalls at the moment. The bearish momentum may
continue, but we could also see a bullish bounce from the current levels, due
to the fact that the stochastics are in the over-sold zone and prone for a
correction. Since the stochastics cannot fall below 0%, they stay consolidating
in the over-sold zone while the price may continue falling. To the upside we do
not see any relevant resistances all the way to the 145.44 level.
Looks like it will keep pushing lower.
ReplyDeleteThe move to the downside still continues.
ReplyDeleteOn the way to the bottom!
ReplyDeleteIt finally found some support at 129.60.
ReplyDeleteThank you for the relevant information.
ReplyDeleteLet's see how long 130.00 level holds.
ReplyDeleteExcellent analysis!
ReplyDeleteHelpful article, thank you!
ReplyDelete