GBP JPY Forex market trading news
6/21/2017 3:25:28 PM
During Forex market activities, the GBP/JPY pair dropped from the high of 142.56 to 140.77, thus immersing the price action seen on Monday - bearish outside day candle.
The cross expanded losses to a 5 day low of 140.47 in Asia as the request for the JPY strength on the back of the oil-led decline in the US and Asian equity markets.
The currency pair was last seen trading around 140.56 levels. The H1 CCI is oversold and the MACD has turned bullish. Therefore, a break of H1 180 EMA of 140.75 could profit a correction to 141.03 and 141.75. On the weakness, breach of support at 140.05 would open doors for a sell-off to 139.20 and 138.71.
FOREX market analysis by FxErvin.