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GBP/JPY Forecast August 22, 2017, Technical Analysis
Updated: Aug 22, 2017, 05:43 GMT+00:00
The British pound initially fell during the day but then bounced again and then fell again. By doing so, we are starting to form a bit of a symmetrical
The British pound initially fell during the day but then bounced again and then fell again. By doing so, we are starting to form a bit of a symmetrical triangle, and it’s possible that we are starting to see the 140 level offer a significant amount of support. A breakdown below there has me selling, and a move above the 141 handle has be buying. We recently broken down below an uptrend line, and that does concern me. Nonetheless, I believe that you are better served waiting for the market to tell you which direction to trade, and then jumping on the opportunity.
GBP/JPY Video 22.8.17
About the Author
Christopher Lewisauthor
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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