GBP/JPY is our Trend for today.
As global markets continue to panic, look for GBP/JPY to make new lows. If prices break and close below the Friday low of 165.30 look for GBP/JPY to reach into the 155.00 area. GBP/JPY continues to trade below its 200 MA making new daily lows. MACD is below the horizontal ‘0’ reference line. Any rallies to the upper resistance lines should be looked at as selling opportunities.