{"id":69107,"date":"2015-03-06T04:44:04","date_gmt":"2015-03-06T09:44:04","guid":{"rendered":"http:\/\/countingpips.com\/?p=69107"},"modified":"2015-03-06T06:46:29","modified_gmt":"2015-03-06T11:46:29","slug":"gbpjpy-lining-up-for-more-losses","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/03\/gbpjpy-lining-up-for-more-losses\/","title":{"rendered":"GBPJPY Lining Up For More Losses"},"content":{"rendered":"
March 6, 2015<\/div>
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Visit our website \u2013 Ikofx<\/a><\/strong><\/em><\/p>\n

The British pound was seen correcting higher against the Japanese yen, but every time the GBPJPY pair made an attempt it found sellers. There is a major resistance on the way up for the pair which is protecting upside in the pair. There was a release in Japan today during the Asian session i.e. the Japanese Leading Economic Index was released by the Cabinet Office. The end result was not a positive one, as the Leading Economic Index registered a reading of 105.1 in January 2015. This was a bit lower when we compare it with the last reading, which was pulled down from 105.6 to 105.3. Let us see whether the yen loses ground from here or not.<\/p>\n

There is a critical bearish trend line formed on the hourly chart of the GBPJPY pair, which acted as a resistance for the pair every time it traded higher. The pair is currently consolidating just below the highlighted trend line. Moreover, the stated trend line also coincides with the 38.2% fib retracement level of the last leg from the 184.30 high to 182.36 low. A break above the mentioned resistance area could take the pair towards the 100 hour MA, which is sitting right at the 61.8% fib level. The hourly RSI is also around the 50 level suggesting a break is near moving ahead.<\/p>\n

\"GBPJPY<\/a><\/p>\n

If GBPJPY pair moves lower from here, then the last low of 182.36 might act as a support, and if it break then a test of 182.00 level is likely.<\/p>\n

Overall, one might consider selling rallies in the GBPJPY pair as long as it is trading below the highlighted trend line.<\/p>\n

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Visit our website \u2013 Ikofx The British pound was seen correcting higher against the Japanese yen, but every time the GBPJPY pair made an attempt it found sellers. There is a major resistance on the way up for the pair which is protecting upside in the pair. There was a release in Japan today during […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-69107","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=69107"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69107\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=69107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=69107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=69107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}