GBP/JPY: Sellers return...
After considerable peaking at the important 38.2% retracement, sellers are preparing a renewed push lower. The internal trend line has already been taken out, confirming our negative stance. A final confirmation occurs below 145.85; dipping below this area opens the road towards 135.55 and the main target area around 126.65.
With stops above 153.60 we are entering on the short-side for the next 2-5 months.
Near term trend: negative
Long term trend: negative
Outlook: trend resumption, negative
Strategy: hold-short and/or sort-entry
Support: 145.85 / 135.55 / 126.65-
Resistance: 153.60 / 155.70+
Outlook cancelled/neutralized above 153.60
With stops above 153.60 we are entering on the short-side for the next 2-5 months.
Near term trend: negative
Long term trend: negative
Outlook: trend resumption, negative
Strategy: hold-short and/or sort-entry
Support: 145.85 / 135.55 / 126.65-
Resistance: 153.60 / 155.70+
Outlook cancelled/neutralized above 153.60
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