Sentiment : 130.15 129.50
The pair GBP/JPY has continued yesterday its bearish movement and the breakout of 128.85 gave us a new sell signal. Then, the pair has rebounded on 128 and is now moving towards a pullback on 128.85 as resistance. All indicators are bearish. The pair is moving into a falling wedge (purple lines - reversal pattern). We continue to advise short positions as far as 129.50 is resistance. The breakout of 127.70 will give a new sell signal and open the way towards 126.70. In case of return above 129.50, we will be neutral between this level and 130.15. The breakout of 130.15 will give a new buy signal.
Chart of the pair GBP/JPY - Timeframe 4H - Zoom in :
Chart of the pair GBP/JPY - Timeframe 4H - Zoom out:
GBP/JPY Live Chart - Timeframe : 4h