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cheminacci

GBPJPY More Room For Bearish Potential Part 2

Short
British Pound / Japanese Yen (FX:GBPJPY)  
cheminacci Updated   
FX:GBPJPY   British Pound / Japanese Yen
GBPJPY gbpjpyshort gbpjpydaily Fibonacci Fibonacci Retracement Fibonacci Extension cheminacci
5
6
gbpjpy gbpjpyshort gbpjpydaily fibonacci fibonacciretracement fibonacciextension cheminacci
After getting the .382 retrace thanks to the BOJ news, it looks as if GBPJPY has a lot further to go. We're entering major bear territory for this pair. Projected target 1 at 156.75 level (1.272 extension). Projected target 2 at 148.00 levels (1.618 extension)
Comment:
GBPJPY began to make its move downward last week. This week we should expect major resistance.
Comment:
This bad boy is moving down very nicely.
Comment:
Trend continuation confirmed. Break of support at 163.980
Trade closed: target reached:
Target 1 hit
Trade active:
Target 1 hit. Trade still open
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