The pair went down from 162.57 to 157.07 in less than a few hours. It's currently trading around 157.80. It's also important to note that the pair hit prior pivot point at 157.10 and then bulls reacted turning the price in the opposite direction.
Main trend has shifted with this sudden change and now first bear target is to go under the support zone.
Chart: GBP/JPY H4
That is an impressive drop.
ReplyDeleteYeah, I didn't expect it.
DeleteThe Bank of Japan’s decision overshadowed the effects of the meeting of the Fed!
ReplyDeleteI thought something like this might happen.
ReplyDeleteGood point. I'll keep a close eye on it.
ReplyDeleteRally continues.
ReplyDelete