Short on GBPJPY - Signals for U-turn
تم تحديثه
Long-term target based on the latest BoJ interest rate hike and signs of a positive outlook for Japan's economy. Technically the pair is scraping around .618 FIBO level which is 195ish - there's still some room to hit the level.
1st target = 170 (0.382 FIB)
2nd target = 160 (156-157 - resistance/support of the past price action).
1st target = 170 (0.382 FIB)
2nd target = 160 (156-157 - resistance/support of the past price action).
ملاحظة
A closer look on Weekly. GJ took it higher latest high (Jun '15) as .618 FIB sits around strong figure of 200.
ملاحظة
198-200 proved to be a point sellers were looking forward to.Looking at a Daily timeframe, 200EMA was hit once and I expect it to be a next support on the cable-yen's way lower.
ملاحظة
Although somewhat above 200, we are still around major resistance level. ملاحظة
4H shows 
GBPJPY might want to complete the recent bounce towards 200 level again.
Once it's there, 200 might be a good point to sell the pair.
ملاحظة
There are dovish talks over BOJ interest rate which push the Yen downwards. 
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