GBPJPY Eyes More Downside Pressure Medium Term

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 20, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    GBPJPY: Having extended its broader medium term downtrend on Wednesday, GBPJPY eyes more downside pressure medium term. On the downside, support comes in at the 164.00 level where a violation will aim at the 163.00 level. A break below here will target the 162.00 level followed by the 161.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 166.00 level followed by the 167.00 level. A cut through that level will set the stage

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