What is your upcoming prediction for this pair on the remaining week?
@jorgemontero, Bouncing off the Daily… slight recovery and then continue down…
Possibly down another 50 pips over the 3 days.
Good catch. I also beleive it can continue its rally to the downside.
GBP / JPY has now entered the cloud and is moving to its lower border. Since the stochastic is oversold and the RSI is almost oversold, I will assume that the pair will turn up from the support.
Daily
It could hit support and then it depends what price tells us. It could move up to the first resistance after hitting support.
I was able to make some good pips last night while it was dropping, I was fortunate to close the operation on time since it seems that now is wanting to go bullish.
Yes, I believe it will fall down to that support as well, then possibly rally back up.
Rangebound 144.25-145.25. Latest GBPJPY quote “144.77”
I see now we are in range! So, I’m with the general rule of range trading;
good call on this, looks like it’s starting to go back up from that support, let’s see how next week is