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1 Apr 2015
GBP/JPY: trend reversal soon? – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team believes that technicals suggest GBP/JPY might see a trend reversal soon.
Key Quotes
“After the GBP was able to appreciate versus the JPY in the beginning of September 2014, the currency pair returned to its low which it already has reached in spring. At this level the bulls took control over the pair and we saw a sharp appreciation of the GBP versus the JPY.”
“After a downward movement the pair is now heading towards the support at 176.76.”
“At the moment however, the pair is still traded between the resistance of 184.72 and the fisrt support of 176.76 and according the indicators we may soon see a trend reversal.”
Key Quotes
“After the GBP was able to appreciate versus the JPY in the beginning of September 2014, the currency pair returned to its low which it already has reached in spring. At this level the bulls took control over the pair and we saw a sharp appreciation of the GBP versus the JPY.”
“After a downward movement the pair is now heading towards the support at 176.76.”
“At the moment however, the pair is still traded between the resistance of 184.72 and the fisrt support of 176.76 and according the indicators we may soon see a trend reversal.”