GJ showing weakness at the verge of the LDN midday and NY open
British Pound/Japanese Yen showing weakness at the verge of the London midday and New York open.
The market reached its bullish climax around 167.000 before the bears take over the market. At the moment, and just like at any other moment, the market may continue in at least the two scenarios drawn on the chart.
It's expected that the current momentum will continue pushing the market down to the 166.500/166.400 before we see signs of the bulls. However, that might also imply that the bears will continue their takeover to push the market even further down to the 166.250/166.000 levels.
In the meantime, anything below the 166.750 level is considered to be weakness, except if the market breaks above this level to reach new highs.
The market reached its bullish climax around 167.000 before the bears take over the market. At the moment, and just like at any other moment, the market may continue in at least the two scenarios drawn on the chart.
It's expected that the current momentum will continue pushing the market down to the 166.500/166.400 before we see signs of the bulls. However, that might also imply that the bears will continue their takeover to push the market even further down to the 166.250/166.000 levels.
In the meantime, anything below the 166.750 level is considered to be weakness, except if the market breaks above this level to reach new highs.