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GBP/JPY Technical Analysis: Major Support Broken, is a New Trend Afoot?
In our last article, we looked at an aggressive reversal setup in GBP/JPY after price action had run down to find support off of a multi-year trend-line. The attractiveness of the setup was in the potential risk-reward in the event of a trend-line inflection off of that trend-line. But that trend-line and the psychological support level were not enough to contain the selling in GBP/JPY, and that stop was promptly consumed by falling prices in GBP/JPY. This does, however, point to the potential for a ‘bigger picture’ trend emerging as we move closer to 2016. Central Banks from the UK and Japan have already pretty ... (full story)
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