Gbp/Jpy not far off low

Written October 6, 2009 at 6:33 AM EST by  

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Gbp/Jpy is not far off session low of 141.90. Fibo retracement lies at 141.88, which has been a good level of support lately. On October 2nd the pair did break below and trade down to 140.75, but by end of that session returned above. If pair can hold it may push 143.00. A more likely scenario sees a break below and possible run down, maybe even below 141.00.

vincent_fx00001

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2 Responses to “Gbp/Jpy not far off low”

  1. Paul Corrado on October 7th, 2009 2:20 am

    Where is the GBPJPY bottom projected at, before an upward move can begin? Does any one have a comment on this question?

  2. Vincent Facchino on October 7th, 2009 4:00 am

    I would look at 139.70-80 level as good area of support. We should see some correction if the pair gets down to that level.
    Good luck in your trading.

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