This Chart shows how GBP/JPY reacted after Daily candle rejection (Oct. 15 & 16).
You would say it was Failure breakdown with these two Channel zones, however it filled
a Gap Up (of Oct. 20) and broken again 3rd Fan Line (since 125.66: 2012 Nov. 13) which
is now at 172.22 (as of Oct. 21).
If Oct. 21's closing level will be below the 3rd Fan Line, I would say bearish phase is coming
again.
We will have to see what wil be happened.....
Nikita FX (climbingfx.jugem.jp/)
You would say it was Failure breakdown with these two Channel zones, however it filled
a Gap Up (of Oct. 20) and broken again 3rd Fan Line (since 125.66: 2012 Nov. 13) which
is now at 172.22 (as of Oct. 21).
If Oct. 21's closing level will be below the 3rd Fan Line, I would say bearish phase is coming
again.
We will have to see what wil be happened.....
Nikita FX (climbingfx.jugem.jp/)