GBP/JPY remains on the downside for a test on 124.18 support first. Break there will confirm resumption of the whole fall from 140.02 and should 122.15 support next. On the upside, above 126.24 minor resistance will turn bias neutral for gbp/jpy
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GBP/JPY remains on the downside for a test on 124.18 support first. Break there will confirm resumption of the whole fall from 140.02 and should 122.15 support next. On the upside, above 126.24 minor resistance will turn bias neutral for gbp/jpy
While there could be some very short-term bounce from here, a reversal is not likely in a risk-off environment, which is opening up deep and wide right now.
If a M15 close above 124.29 Buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 123.53 sell only and do not buy. If price closes back above it again do nothing
The range 124.29 and 123.53 is neutral area, any trade done in between is personal decision and not part of this analysis
Ultimately, only a weekly close below 125.00 would delay and give reason for concern, while a daily close back above 128.00 confirms bias and should accelerate.
Market setbacks have been very well supported on dips below 125.00 and we look for the formation of a fresh medium-term higher low around the psychological barrier ahead of the next major upside extension back towards and eventually through 140.00
the pair is trading under the level of 124.00 , any way if the pair succeeded in breaking 124.00 , it will continue in it's up mobements heading to 124.40and then 124.80 ,
Ultimately, only a weekly close below 125.00 would delay and give reason for concern, while a daily close back above 128.00 confirms bias and should accelerate.
as we see today daily candle is going to close as bullish on with the Big body, tomorrow we may see another bullish candle following this candle targetting 126.
the pair and as we can see from the chart has closed it's daily candle under the level of 125.00 , so , that's mean the down trend is still standing and the pair is heading to 124.50 then 124.00
Market setbacks have been very well supported on dips below 125.00 and we look for the formation of a fresh medium-term higher low around the psychological barrier ahead of the next major upside extension back towards and eventually through 140.00.