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Great Britain V. Japan
There are many reasons that this will Go down from here. But most of that can easily be seen from the larger TF chart.
GBPJPY is producing an very nice ascending channel with lowering volume. Also, it has breached its breakdown point from earlier which would imply this resistance could hold as its been steadily selling off now for the past few weeks. This thing has a long way to go down in my opinion. One of those once in a lifetime type Forex trades.
Forex is tied hand in hand to the legacy markets if you know how to get the correlations figured out.
GBP has been one of the weakest performing curriences so far, likely due to brexit. Japan, of course, has actually won the world cup for strength as these uncertain times approach.
Great Britain V. Japan
There are many reasons that this will Go down from here. But most of that can easily be seen from the larger TF chart.
GBPJPY is producing an very nice ascending channel with lowering volume. Also, it has breached its breakdown point from earlier which would imply this resistance could hold as its been steadily selling off now for the past few weeks. This thing has a long way to go down in my opinion. One of those once in a lifetime type Forex trades.
Forex is tied hand in hand to the legacy markets if you know how to get the correlations figured out.
GBP has been one of the weakest performing curriences so far, likely due to brexit. Japan, of course, has actually won the world cup for strength as these uncertain times approach.
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The recent inflow of Sell Volume as GBP is trying to top in the last of its strength against the major flight to safety in crazy times JPY.
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I would say the top is in for GBP
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