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DennisDims

GBPJPY DOWNTREND

Short
British Pound / Japanese Yen (FX:GBPJPY)  
DennisDims  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis trendlinebounce Fibonacci Retracement
8
1
trendanalysis trendlinebounce fibonacciretracement
Price dropped to the initial target and pulled back to the descending trendline.
GBPJPY BROKEN SUPPORT
Bulls have not been able to break above the pivot suggesting the price will drop further towards the support.

A break and consolidation above the trendline will change the bias to bullish with initial target at 167.8.
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