NZD/JPY falling inside minor impulse wave C Next sell target - 76…
GBP/JPY supported by the 200 SMA at H1 chart
The pair has found resistance in the psychological level of 152.00 and now it’s looking to retrace around 50%, according to our Fibonacci forecast. GBP/JPY should make a break below the 200 SMA at H1 chart in order to allow a leg lower that touches the 50% Fibo level at 150.70. If the pair manages to rebound around that area, the next target lies at -23.6% in the 152.61 level.
RSI indicator remains in favor of the bears.
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.