gbpjpy

Weekly Technical Analysis Report 12 January – Possible bearish play seen on GBPJPY

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

Salzworth Asset Management