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.
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.
