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GBP/JPY Classical 03.05

GBP/JPY Classical 03.05

2010-03-05 07:15:00
Joel Kruger, Technical Strategist
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GBP/JPY: Wednesday’s bullish reversal day marks and end to a series of nine consecutive lower tops and nine consecutive negative closes, which could finally be warning of the start to a much needed corrective bounce. Daily studies are oversold and we look for an upside correction back towards 138.00 at a minimum before considering the possibility of bearish resumption.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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