USD/JPY 1H Chart: Channel Down

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 28, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    GBP/JPY 4H Chart: Channel Up Comment: Since the previous time we looked at GBP/JPY, the currency pair has nearly completed the bearish correction, and we prepare for a rally. The present sell-off from 186.36 (monthly R1 and resistance line) should bottom out around 183.50, where the lower boundary of the channel coincides with the monthly pivot point. The target will then be the last month’s peak at 188.40. If demand proves to be insufficient to trigger a recovery in the nearest future, the

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