News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Looking to Sell GBP/JPY

Looking to Sell GBP/JPY

Joel Kruger, Technical Strategist

This market has been very well bid over the past several sessions and while we could indeed be in the process of seeing a major structural shift, we also can not ignore the severely overbought short-term technical studies which warn of the potential for a pullback before the market once again looks to reassert and continue higher. The daily RSI has traded up by 80, and should our in-house model permit, we recommend looking to sell rallies into critical resistance by the multi-week highs at 127.30 for a 123.00 objective. Stop on close above 128.50.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.