The GBP/JPY pair initially tried to rally during the course of the week, but turned around to form a shooting star. The shooting star of course is a
The GBP/JPY pair initially tried to rally during the course of the week, but turned around to form a shooting star. The shooting star of course is a negative sign, so having said that it’s likely that the selling pressure will continue. On a fresh, new low, we would be sellers. The 165 level above continues to be resistive, so it’s not until we break well above there that we would be interested in buying this market. At this point, there seems to be enough bearish pressure to keep us negative.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
