GBPJPY clearly hit the first key support and break it. From that, we know that this currency will continue to go down and down more.
But before continuing to drop down, this pair will head up for a retracement. From my technical analysis result, we can see two strong resistance at 183.730 and 184.190. From that, we know that this pair will make a reversal at each of that level and continue falling down to my next target estimated at 180.000. What a nice big round number.
Before start selling, you can buy but please be careful as the main trend is down now. It's better for us to wait and start selling at the suggested level and swing to BRN 180.000
As usual, watch price action and candlestick signal before make a decision to sell.
But before continuing to drop down, this pair will head up for a retracement. From my technical analysis result, we can see two strong resistance at 183.730 and 184.190. From that, we know that this pair will make a reversal at each of that level and continue falling down to my next target estimated at 180.000. What a nice big round number.
Before start selling, you can buy but please be careful as the main trend is down now. It's better for us to wait and start selling at the suggested level and swing to BRN 180.000
As usual, watch price action and candlestick signal before make a decision to sell.
