Should price continue trading further down we might expect a new bottom around 181.90. It is more likely, however, that bulls will try to regain dominance and push prices above support.
Chart: GBP/JPY D1
Thursday, December 10, 2015
GBP/JPY Broke Support
The pair is trading below support since today. It broke the major support on December 8 and since then it has not been able to recover above it. Instead, bears are pushing even lower with prices touching 183.35 today and GBP/JPY is trading below 184.25 - major support level.
Should price continue trading further down we might expect a new bottom around 181.90. It is more likely, however, that bulls will try to regain dominance and push prices above support.
Chart: GBP/JPY D1
Should price continue trading further down we might expect a new bottom around 181.90. It is more likely, however, that bulls will try to regain dominance and push prices above support.
Chart: GBP/JPY D1
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The Pound versus the Yen breaks below the 184.00 level, but then it goes back above it.
ReplyDeleteConsolidation continues for now.
ReplyDeleteThanks for this useful analysis!
ReplyDeleteVery useful analysis.
ReplyDeleteI will keep eyes on the support level.
ReplyDelete