Note: This section contains information in English only.The monthly downtrend added a second boundary to sketch a falling wedge on the hourly chart to set some bullish pressures into action. The GBP/JPY has just touched the upper bound of the pattern and entered a resistance cloud which is most likely to send the rate packing towards the lower trend-line around 137.02. There is a strong support cluster at 137.66/62 which will cause some stickiness at the area, but let the pair slide eventually. The rate has hit the 137.91/87 support cluster, which consists of the 100 and 55-hour SMA as well as the lower bound of the cloud support, which means that we could see a slight correction of the area before the slip.
Mon, 10 Apr 2017 10:19:38 GMT
Source: Dukascopy Bank SA