Contributors Technical Analysis GBPJPY Taking Clearer Direction after Triple-Doji

GBPJPY Taking Clearer Direction after Triple-Doji

The cross is taking clearer direction after triple-Doji on Strong bearish acceleration on Monday. Fresh weakness broke below psychological 150 support and dented support at 149.65 (Fibo 23.6% of 139.30/152.85 ascend. Daily RSI reversed from overbought territory and shows plenty of room for further downside, with close below 149.65 seen as bearish signal for extension towards initial support at 149.00 (4-hr cloud base), followed by former tops at 148.10/147.77 (10 May/11 July) and pivotal 147.67 support (Fibo 38.2% retracement). Broken 10SMA (150.94) and 4-hr cloud top (151.15) should cap recovery attempts.

Res: 150.00; 150.96; 151.15; 151.60
Sup: 149.00; 148.10; 147.67; 146.43

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