Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/JPY falling inside minor ABC correction (ii)
2019-11-11 • Updated
- GBP/JPY falling inside minor ABC correction (ii)
- Next sell target - 139.00
GBP/JPY has been falling in the last few trading sessions inside the c-wave of the minor ABC correction (ii) from the start of July. The active wave started when the pair reversed down from the powerful resistance area located between the long-term resistance level 148.00 (top of the previous impulse waves (1) and 1 and (i)) and the upper daily Bollinger Band. GBP/JPY is expected to fall further to next sell target at the next round support level 139.00 (bottom of the previous minor ABC correction 2 from June).
What happened? Japanese shares fell on Monday…
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
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