Analysts at Credit Suisse take a look at the GBP/JPY technical picture, which shows the pair pointing down.
Key quotes
“GBP/JPY seems to be rolling over having held below the 50% retracement of the downmove from December at 135.76/136.03, with medium-term moving averages crossing lower and the shorter-term Stochastic Oscillator also turning down.”
“Key short-term support is at 132.36, below which would trigger an intraday top to signal the downtrend is resuming, with next supports seen at 127.36, then the 2020 low at 124.10.”
Share
