Technical analysis of NZD/CHF
GBP/JPY reversed from resistance area
- GBP/JPY reversed from resistance area
- Next sell target - 147.50
GBP/JPY continues to fall inside the minor corrective wave (ii) which started earlier from the resistance area lying between the resistance level 152.50 (top of the previous minor impulse wave 1 from September), resistance trendline of the daily up channel from April and the upper daily Bollinger Band. GBP/JPY is expected to fall further toward the next sell target at the next support level 147.50 (which has been reversing the price from the start of October).
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.