Coming into resistance and showing a sign of weakness
is the GBPJPY at the moment. Hitting a previous low
that has brought back the sellers, the anticipation is to
look for a push back toward the lows. Any micro rally
back up to the high at 168.42 will give a good
opportunity for a short position with a small stop. The
more amount of time that passes with price remaining
beneath that level will increase the probability of this
pair working back to 160 in no time
is the GBPJPY at the moment. Hitting a previous low
that has brought back the sellers, the anticipation is to
look for a push back toward the lows. Any micro rally
back up to the high at 168.42 will give a good
opportunity for a short position with a small stop. The
more amount of time that passes with price remaining
beneath that level will increase the probability of this
pair working back to 160 in no time