Potential continuation move down setting up on GBP/JPY
There is evidence of price rejection at 140.00, with recent bull candles failing to better the current session high or to breach the round number.
After a strong down move yesterday and now a 61% retracement, we may be setting up the start of a continuation move to test yesterdays low at 139, as we head into the next session.
Look for a break of the bull trendline for confirmation, or alternatively a double top at 140.00.
After a strong down move yesterday and now a 61% retracement, we may be setting up the start of a continuation move to test yesterdays low at 139, as we head into the next session.
Look for a break of the bull trendline for confirmation, or alternatively a double top at 140.00.
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Double top forming