GBPJPY Free Fall to 140.0

3 thg 3, 2018

What a week it was for GBPJPY currency pair. Last week we saw this pair fall nearly 500 pips smashing through our 147.5 weekly support and closing solidly beneath that zone. With an extremely strong weekly close, and taking into consideration the nature of the GBPJPY currency pair, we are now looking for the pair to bee-line towards our monthly support at 140.0. There are absolutely no buyers at this juncture, and any pull back can be taken as an opportunity to go short. Personally, I expect 140.0 to be met in the ext 2 trading weeks. Looking at the strong monthly candle close, I do expect 140.0 to eventually be breached and levels such as 130.0 will be met in the coming months.