GBPJPY Faces Downside Pressure Medium Term

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 22, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    GBPJPY - Having continued to maintain its broader weakness, GBPJPY faces downside pressure medium term. This view remains valid while the cross trades and holds below its key resistance zone at 183.36. On the downside, support comes in at the 179.00 level where a violation will aim at the 178.00 level. A break below here will target the 177.00 level followed by the 176.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance is seen at the 181.00

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