Much like cable, GBPJPY approaches 125, the low of the aftermath of the Brexit vote. Broken weekly trend line shows more potential on the sell side. Trade war and geopolitical tensions cause investors to dump risky assets and go for safe havens, massively boosting JPY.
This week continue to sell to 125 and watch for next setups at the level, we could retest the broken trend line first. With current economic and political situation both in regard to Brexit and global economy, this pair seems set to break below 125 despite oversold technicals.
Unless we see progress in Brexit or trade war, this has further sell potential. Good Luck!
This week continue to sell to 125 and watch for next setups at the level, we could retest the broken trend line first. With current economic and political situation both in regard to Brexit and global economy, this pair seems set to break below 125 despite oversold technicals.
Unless we see progress in Brexit or trade war, this has further sell potential. Good Luck!