NZD/JPY falling inside minor impulse wave C Next sell target - 76…
GBP/JPY reversed from resistance zone
- GBP/JPY reversed from resistance zone
- Next sell target - 149.45
GBP/JPY recently reversed down with the daily Japanese candlesticks reversal pattern Evening Star from the resistance zone lying between the pivotal resistance level 152.80 (which has been reversing the price from the end of September), upper résistance trendline of the wide daily up channel from last year and upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous minor impulse wave (iii). GBP/JPY is expected to fall to the next sell target at the next support level 149.45 (monthly low from December).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.