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GBP/JPY Head and Shoulders Formation
Monday, 22 June 2009 13:49:17 GMT
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- Monday, 12 October 2009 21:00:42 GMT Daily Pivot Points
- Monday, 12 October 2009 07:35:23 GMT Euro Carving Double Top (Daily Classical)
- Friday, 09 October 2009 01:07:54 GMT Dollar: Something Has to Give
- Thursday, 08 October 2009 21:06:02 GMT EURJPY Looks Constructive
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- Monday, 05 October 2009 21:08:32 GMT Daily Pivot Points
GBPJPY charts are showing a head and shoulders formation, with the shoulder drawn near 159.30/50 and the neckline at 155.00. Today's plunge in US equities suggests that carry trades may continue to pull back, especially as the DJIA hasn't been able to hold above key support at 8,500, which works in favor of those selling GBPJPY. Drop below 155.00 may target a rising trendline at 150.00/50, which connects the 1/23, 4/28, and 5/18 lows.
Source: FXTrek IntelliCharts
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