After getting the .382 retrace thanks to the BOJ news, it looks as if GBPJPY has a lot further to go. We're entering major bear territory for this pair. Projected target 1 at 156.75 level (1.272 extension). Projected target 2 at 148.00 levels (1.618 extension)
Comment:
GBPJPY began to make its move downward last week. This week we should expect major resistance.
Comment:
This bad boy is moving down very nicely.
Comment:
Trend continuation confirmed. Break of support at 163.980
Trade closed: target reached:
Target 1 hit
Trade active:
Target 1 hit. Trade still open