GBPJPY keeps a lid on the at resistance area today

Discussion in 'Technical Analysis' started by ForexLive, Oct 6, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Corrections are limited so far... The last few weeks (see 4-hour chart below) has seen the price of the GBPJPY move down and up and down and up. The ups have found selling in the 132.215-132.617 area (see yellow area in the chart below). The buys came between 129.61 and 130.00. While the GBPUSD has been hit (GBP getting weak), the USDJPY has rallied (JPY getting weak too). This has helped the pair remain range bound.

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