GBP/JPY is correcting the monthly bullish impulse. Bears will eye a significant correction from this juncture. GB/JPY has stalled in the long-term charts and the focus is now on the downside, as illustrated within the following top-down analysis: Monthly chart The monthly chart shows that the price has stalled and started to correct putting the prior resistances in view. This puts the 50% ad 61.8% Fibonacci retracements in focus. Weekly chart The weekly chart is under pressure and has formed a resistance structure. Daily chart The price may still have some room to the upside at this juncture to fully test the 38.2% Fibonacci retracement of the bearish impulse that aligns with the body of the prior resistance candle. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD: Bulls await Australian jobs data near three-week top above 0.7700 FX Street 2 years GBP/JPY is correcting the monthly bullish impulse. Bears will eye a significant correction from this juncture. GB/JPY has stalled in the long-term charts and the focus is now on the downside, as illustrated within the following top-down analysis: Monthly chart The monthly chart shows that the price has stalled and started to correct putting the prior resistances in view. This puts the 50% ad 61.8% Fibonacci retracements in focus. Weekly chart The weekly chart is under pressure and has formed a resistance structure. Daily chart The price may still have some room to the upside… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
