The Pound
versus the Yen has been respecting certain technical levels as seen on the
daily chart. The purple line over the chart represents the 55 day exponential
moving average, which at the moment is around the 136.72 level. The price
started climbing and broke above the 55 day EMA to reach the 139.00 level to
stall there and bounce back down. The pair retraces to the downside and breaks
below the 55 day EMA again to reach the 135.00 level. At the moment, the pair
is trying to bounce to the upside and if it breaks above the 55 day EMA, then
it may reach the 139.00 level. To the downside, below the 135.00 level, its
next supports could be the 132.00 level or the 128.67 level.
Excellent analysis, thank you!
ReplyDeleteIt could be at a good turning point.
ReplyDeleteThank you for the assessment.
ReplyDeleteGood post, thank you!
ReplyDeleteLack of clear direction.
ReplyDeleteIt was interesting to read! Thanks a lot!
ReplyDelete