Technical analysis of EURNZD
GBP/JPY reversed from resistance zone
- GBP/JPY reversed from resistance zone
- Next sell target - 144.60
GBP/JPY recently reversed down from the powerful resistance zone lying between the multi-month resistance level 148.60 (which stopped the previous primary ABC correction ② in December, as can be seen from the daily GBP/JPY chart below), upper daily Bollinger Band and the 61.8% Fibonacci correction of the sharp downward impulse from last July.
GBP/JPY is expected to fall to the next sell target at the next support level 144.60 (previous resistance level from January, acting as support now after it was broke earlier).
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
The key question about Brexit now is whether there will a deal between Britain and the European Union or the parties end up without a one.