GBP/JPY Forecast October 11, 2016, Technical Analysis

The GBP/JPY pair initially fell on Monday but turned around to form a little bit of a supportive hammer like candle. However, I think that there is a significant amount of resistance at the 130 level that we would have to break over in order to start buying. At this point time, I believe that sooner or later the sellers will return, and of course a break down below the bottom of the hammer could be a sign to start following them. Exhaustion or break down, either way I’m looking to sell.

Eracash.com - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com