GBPJPY (British Pound/Japanese Yen) currencies Analysis 29/06/2
Technical Analysis:
As you can see, the currency pair has shown Bearish Divergence with MACD in the daily Timeframe chart which is the sign of bearish trend upcoming and some retracement to lower levels.
we draw Fibonacci retracement from low to high of the initial Bullish wave which has important levels defined. What we think that GBPJPY may rise up from 38.2% Fib level and if so it we can target the 2 TP or else if more retracement the golden zone we can count on as heavy support area and target 1 TP.
this analysis is very similar to the EURJPY analysis so we have used the same technical description.
As you can see, the currency pair has shown Bearish Divergence with MACD in the daily Timeframe chart which is the sign of bearish trend upcoming and some retracement to lower levels.
we draw Fibonacci retracement from low to high of the initial Bullish wave which has important levels defined. What we think that GBPJPY may rise up from 38.2% Fib level and if so it we can target the 2 TP or else if more retracement the golden zone we can count on as heavy support area and target 1 TP.
this analysis is very similar to the EURJPY analysis so we have used the same technical description.
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