Premium2 768x90
View RSS Feed

TechnoMeter

GBP/JPY Price Outlook

Rate this Entry
by , 05-17-2019 at 10:49 AM (36 Views)
          
   
Negative Break to The Downside

Since early Jan GBP/JPY has been trading to the upside from the higher-high created on Jan 25 at 144.84, to Feb 7 higher low at 141.01. On Feb 25 the pair opened with an exhaustion gap indicating that the uptrend would end soon.
GBP/JPY started to correct this movement on April 3 carving a lower high at 147.20 and a higher low on April 9 at 144.78, then to start a bearish movement creating on April 12 another lower high at 147.01 with a lower low on April 25 at 143.76.

Name:  gbpjpy-h4-alpari-international-2.png
Views: 11
Size:  16.9 KB

On May 6 bearish momentum gained strength when the price opened with a breakaway downside gap, starting a sell-off so the price closed on May 10 at 142.98. On Monday GBP/JPY opened with a measuring gap at 142.77 encouraging the pair to move further to the downside breaking below the levels mentioned in last week article 141.90 and the 141.04 140.94 zone.

more...

Submit "GBP/JPY Price Outlook" to Google Submit "GBP/JPY Price Outlook" to del.icio.us Submit "GBP/JPY Price Outlook" to Digg Submit "GBP/JPY Price Outlook" to StumbleUpon Submit "GBP/JPY Price Outlook" to reddit

Comments