the bull trend of the pair GBP/JPY as reach its limit a bearish force will drive the JPY value over the GBP, considering past event the GBP is striving to reach 200 mark against the Yen but as reached a strong resistance at 191.652, we can now evaluate the concurrent expentancy of the currency pair
let look at the overview for today
WATCH ENTRY SPOT 191.418
EXIT SPOT 189.500
STOP LOSS 192.000
INDICATOR SELL
NEWS ON GBP?JPY
The British Pound managed to avert bearish reversal adjoining the Japanese Yen but negative RSI divergence continues to plan of sickness ahead. A daily muggy deadened trend pedigree allocation is at 191.41 exposes the 14.6% Fibonacci retracement at 189.45. Alternatively, a concern above the 23.6%
Fib strengthen at 192.27 clears the mannerism for a test of the 38.2% level at 194.58.
Risk/recompense considerations argue neighboring to entering quick once prices in close proximity to maintenance. On the accessory hand, the absence of a defined bullish reversal signal suggests taking occurring the long side is premature. We will remain flat for now, waiting for an actionable opportunity to have the funds for itself.
