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5 May 2015
GBP/JPY could drop down to 180.32 – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, GBP/JPY might have made a near-term top at 184.46 and is likely to drop lower towards 180.32 within a week.
Key Quotes
“The pair could drop to its 200‐DMA located at 180.32 in a week’s time. The daily close below 182.18 (23.6% Fib retracement of 174.86‐186.45) for two consecutive session indicates 184.46 is likely to be a near‐term top in the pair.”
“After having declined to 181.50 earlier today, the pair has strengthened to 182.77. In case we see a daily close above 182.18 today, another attempt at 183.50 could be seen. However, the pair is likely to be offered on the rise.”
“A failure to close above 182.18 today could trigger sharp sell‐off on Wednesday and Thursday, shifting risk in favor of the pair falling to the anticipated level of 180.32 before weekend.”
Key Quotes
“The pair could drop to its 200‐DMA located at 180.32 in a week’s time. The daily close below 182.18 (23.6% Fib retracement of 174.86‐186.45) for two consecutive session indicates 184.46 is likely to be a near‐term top in the pair.”
“After having declined to 181.50 earlier today, the pair has strengthened to 182.77. In case we see a daily close above 182.18 today, another attempt at 183.50 could be seen. However, the pair is likely to be offered on the rise.”
“A failure to close above 182.18 today could trigger sharp sell‐off on Wednesday and Thursday, shifting risk in favor of the pair falling to the anticipated level of 180.32 before weekend.”