The GBPJPY recently broke and closed below an important daily support level.
Following the breakout, the price retested the broken support and began consolidating within a range.
A bearish breakout from this range serves as a strong confirmation of further bearish movement, increasing the likelihood that the breakout is legitimate.
It is anticipated that the price will decline to a level between 190.99 and 190.23.
Following the breakout, the price retested the broken support and began consolidating within a range.
A bearish breakout from this range serves as a strong confirmation of further bearish movement, increasing the likelihood that the breakout is legitimate.
It is anticipated that the price will decline to a level between 190.99 and 190.23.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.