GBPJPY Weekly Technical Analysis 11-15 January, 2016 | January 9, 2016

Gbjpy has fallen sharply last week. It gives the idea about the bearish power of this pair. This pair should fall more. This pair will face now a major support level at 168 level. This level can give good support on this fall. So if it can break this level, then this pair will get more space for falling. After breakout of this support, this pair can reach 160 level.


If this pair retains this support level, then there is a chance to pull back again. For buy confirmation, we need to wait for price action candle from daily chart. If we can get rejection or pin bar type candle from the support, then we should go for buy on this pair.