craiglewis7
Short

Psychological Support Level on GBPJPY nearing like EU Referendum

FX:GBPJPY   British Pound/Japanese Yen
I thought I would share my idea and thoughts on the GBPJPY             as we rapidly approach Britain's EU referendum.

For two weeks now I have tailed the GBPJPY             down to its psychological support levels 150.00 and 149.500.

As the 23rd June nears, I can't help but see a great opportunity to short in the GBPJPY             , as current sentiment favours the Brexit rather than the Bremain. Such favouritism is building an even more compelling case in my eyes for a pending short down to the 139.000 levels and the reasoning is due to likely drop in GBP should the Brexit camp prevail.

This in my eyes will be the catalyst that will expose the levels below. Currently price is hovering around the 149.500 mark.

If price is to break this level and then come back to retest I can't see no other way but down in the short term for the GBPJPY            

snapshot


FX:GBPJPY            
Trade active: If you were lucky enough to catch this during the Asian session, the GBPJPY broke the psychological hold that the 149.000 was having.
Trade active: Instantly, price surged down to 146.500 and has since established a resistance level of 148.000.
Comment: /Users/RobinsonLewis/Desktop/Screen Shot 2016-06-16 at 16.35.18.png
Comment: Pull back into 146.500 area is starting to hold and price looking to push down from here
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