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AATONY

Short on GBPJPY - Signals for U-turn

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
AATONY Updated   
OANDA:GBPJPY   British Pound / Japanese Yen
Fundamental Analysis Pivot Points Support and Resistance yen cable
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5
fundamental pivotpoints supportandresistance yen cable
Long-term target based on the latest BoJ interest rate hike and signs of a positive outlook for Japan's economy. Technically the pair is scraping around .618 FIBO level which is 195ish - there's still some room to hit the level.

1st target = 170 (0.382 FIB)
2nd target = 160 (156-157 - resistance/support of the past price action).
Comment:
snapshot
A closer look on Weekly. GJ took it higher latest high (Jun '15) as .618 FIB sits around strong figure of 200.
Comment:
198-200 proved to be a point sellers were looking forward to.

Looking at a Daily timeframe, 200EMA was hit once and I expect it to be a next support on the cable-yen's way lower.

snapshot
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