GBP/JPY Technical analysis
GBP/JPY is currently stalled in a descending triangle pattern.
The recent upsurge has been capped by the resistive trendline.
It faced rejections initially but now formed a follow-through bearish engulfing candle.
Hence, we expect the bears to hop in here and send the pair spiralling down to the support level of 143.833.
The recent upsurge has been capped by the resistive trendline.
It faced rejections initially but now formed a follow-through bearish engulfing candle.
Hence, we expect the bears to hop in here and send the pair spiralling down to the support level of 143.833.
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