FXHighway
Short

GBPJPY retests the broken channel

FX:GBPJPY   British Pound / Japanese Yen
90 0 0
Target: 168.00
Risk: 181.00

Technical Reasons:

The previously broken support line of the ascending channel was retested and the price is stable below it, which makes the bearish trend expected for the upcoming period.

The exponential moving averages 50 and 100 put negative pressure on the price, and stochastic is overbought now.
Breaching 178.85 level will put the price inside the bullish channel again and stop the current negative pressure.


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