Gloomy outlook for GBPJPY BULLS
With key support at 136.75 broken and price now trading under the 200 sma on the Daily, more weakness in G/J is likely. The rising trendline shown, which comes in at 134.76 may offer support but this seems unlikely. Adding to the BEARISH technical picture are political tensions over North Korea and Syria/Russia which will lead to investors seeking out the safety of the YEN and the CHF.
HArd to see any significant support under 135 so a break under this level opens up a deeper move down to 132.
HArd to see any significant support under 135 so a break under this level opens up a deeper move down to 132.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.