• 4 days The Million-Dollar Question: Will China Bail Out Evergrande?
  • 6 days 3 Restaurant Stocks In Full Recovery Mode
  • 6 days Bitcoin Is Driven By Testosterone
  • 11 days Quantum Computing Is The Newest Megatrend In Silicon Valley
  • 12 days How To Invest In The Cybersecurity Boom
  • 14 days Investors Are Patient With Unprofitable Giants
  • 16 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 18 days 5 Stocks To Keep A Close Eye On This Year
  • 19 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 20 days Central America Is Ready For The Bitcoin Hustle
  • 22 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 23 days Top Performing Stocks As Inflation Fears Grow
  • 24 days US Airline Stocks Take A Beating On New EU Restrictions
  • 25 days This IPO Could Open Sustainable Fashion Floodgates
  • 26 days Crypto Crime Nets Another $2B Fraudster
  • 28 days This Week’s Hottest Meme Stocks
  • 29 days Why World Markets Should Be Watching Germany Closely
  • 31 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 33 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 35 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

Contact Author

  1. Home
  2. Markets
  3. Other

GBP/JPY - Retesting Old Declining Trendline

GBP/JPY is moving toward support which if successful would increases the likelihood of further medium-term strength. Break of declining trend line has improve the short-term technical structure proving scope for a challenge to resistance at 185.03 (27/02/2015 high). Supports lies at 181.75 (declining trendline) and 179.32 (23/04/2015 low)

In the long-term, the lower high made on February 2015 suggests a weakening uptrend. However, the successful test of the strong support at 175.51 (03/02/2015 low) signals persistent buying interest. Key resistances stand at 185.03 (26/02/2015 high). A major support area can be found between 169.51 (11/04/2014 low) and 167.78 (18/03/2014 low).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment