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GBP/JPY forecast for the week of August 28, 2017, Technical Analysis
Updated: Aug 26, 2017, 06:36 GMT+00:00
The British pound fell during the week against the Japanese yen, but bounced above the 140 handle. If we can clear the top of the candle, that would be a
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The British pound fell during the week against the Japanese yen, but bounced above the 140 handle. If we can clear the top of the candle, that would be a bullish sign but at the end of the day we are still below the uptrend line. The uptrend line being tested at the bottom of the line would be typical technical analysis. Because of this, I think the sellers will come in at the uptrend line, and perhaps push lower. If we breakdown below the hammer for the week, that is also very negative sign. I believe that the British pound should continue to be at risk for headline shocks.
GBP/JPY Video 28.8.17
About the Author
Christopher LewisSenior Analyst
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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