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NIAL FULLER
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GBPJPY Fx Reversal Signals – Ready for falls?

GBPJPY Fx Reversal Signals – Ready for falls?

A quick note on the GBPJPY forex pair outlook.

Price has reached the 15300 level and rejected, confirming a strong sell signal / reversal pattern.

Logical price action laws suggest this is the termination of the most recent recovery and as long as prices remain under 15300 resistance, the market has a solid chance of now selling off back into lower levels, closer to 14800 and then 14480.  Its not a certaintiy, but we may actually see this pair rotate all the way back down into 14000 levels once again, as this is the most recent low, and would be a logical target.

The GBPJPY pair is notorious for its volatility, so watch it closely, and favor the sellers under 15300 in the near term. see price chart below.

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is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
  1. Lisa October 30, 2009 at 8:22 am

    hmmm ~ not so good this time around :(
    volatile

    Reply
    • nial October 30, 2009 at 8:58 am

      Yes, the price did move the right way initially, but the market has now moved back up.
      Volatile at the moment thats for sure.

      Reply

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