TipTVFinance

GBP/JPY – Stuck at trend line hurdle

FX:GBPJPY   British Pound/Japanese Yen
Resistance – 162.76, 164.09, 166.08 

Support – 161.62, 160.00, 159.00

  • Pair, along with EUR/JPY             cross, stays bid as anticipated yesterday, but is having a tough time rising through trend line hurdle at 162.76.
  • Repeated failure could trigger a minor bout of weakness that could yield 161.62 (daily low).
  • On the other hand, at least a 15-min closing above 162.76 is essential to bring in fresh bids and fuel rally towards 163+ levels.

Note – Repeated failure at 162.76 could also be an indication of correction in Cable as Yen is likely to stay under pressure ahead of BOJ
bearish here, i believe we are in front of another move down soon. good luck!
Reply
TipTVFinance PRO VladimirRibakov
7 months ago
Agreed. sell-off likely to gather pace if a break is seen below 160.00 from here
Reply
sanmed02 VladimirRibakov
7 months ago
I believe too
Reply
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