Weekly Technical Analysis Report 12 January – Possible bearish play seen on GBPJPY
January 12, 2022
Weekly Technical Analysis Report 12 January – Possible bearish play seen on GBPJPY
1. This week’s outlook on GBPJPY: Bearish play seen
On the daily time frame, prices mitigated a key resistance zone where we could see further downside below this level. On the M30 time frame, a pullback to the resistance zone at 157.606, in line with the 127.2% Fibonacci extension, presents an opportunity to sell with 156.755 as our support target. Stochastic is approaching resistance as well where we could see a reversal below this level.
Outlook on GBPJPY: Bearish play seen by Salzworth on TradingView.com
