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.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.10% Gold: -0.15% Silver: -1.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7HFljQgYvX
  • #Dow: A close below the low end of the zone may convince more bulls to cut back. Get your market update from @malkudsi here: https://t.co/R4NVKGlLJW https://t.co/AZ62MAqfx4
  • #WTI crude #oil hasn’t been the easiest place to find opportunities for a while, but from time-to-time over the past six months or so there has been a good level,. Get your market update from @PaulRobinsonFX here: https://t.co/p4hBF4mGSg #OOTT https://t.co/RPV01Gac6H
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.56%, while traders in Germany 30 are at opposite extremes with 80.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0dUgppVQ9d
  • China Official says no time frame for phase-two trade talks to begin - BBG
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.20% US 500: -0.24% France 40: -0.25% Wall Street: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qc3AY9Nin8
  • With $BA breaking beneath support at $320, $AAPL is now the highest weighted member on the $Dow https://t.co/S6N0F61OdG
  • US Treasury Yields Update: 2-Year: 1.530% 3-Year: 1.530% 5-Year: 1.572% 7-Year: 1.680% 10-Year: 1.767% 30-Year: 2.229% $TNX
  • On the long side of the US Dollar, $AUDUSD remains with an interesting backdrop. The pair burst-above the key psychological level of .7000 ahead of last year’s close. Get your market update from @JStanleyFX here:https://t.co/i8vCvpTrgt https://t.co/VN7WLFBzCa
  • The S&P 500 falls after first US case of Wuhan virus expected to be reported by the CDC $SPX $VIX https://t.co/ZpAICMqQTF
GBP/JPY Classical 05.10

GBP/JPY Classical 05.10

2010-05-10 06:13:00
Joel Kruger, Technical Strategist
Share:

gbpjpy2

GBP/JPY: The market has been gradually channeling lower since August 2009, making a series of lower highs and lower lows. The latest break to fresh 2010 lows below 132.00 now sets up a fresh medium-term lower top by 146.00, potentially opening the next major downside extension towards the historic lows from 2009 by 118.85 over the coming weeks. For now, look for any inter-day rallies to be well capped ahead of 142.00.

 

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

If you wish to receive Joel's reports in a more timely fashion, e-mail instructor@dailyfx.com and you will be added to the "distribution" list.

 

 

If you wish to discus this topic or any other feel free to visit our Forum page

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

DISCLOSURES

News & Analysis at your fingertips.