GBP/JPY Technical Analysis for September 18, 2020 by FXEmpire

by birtanpublished on September 23, 2020

from fx empire this is chris taking a look at the um british pound japanese yen slicing through 135 today after the npc meeting really uh at this point i don't think it really it shouldn't be a huge surprise

We have all these brexit issues and we we saw every time we rallied we failed so really it's not until we break above these candlesticks here at 136 and a half ish that i would consider buying we may get a bit of a bounce that

Wouldn't be a surprise either there is support underneath here should not be a surprise that the outlook is pretty bleak for the united kingdom right now but i think really what it comes down to is the

British pound is going to become a buy once we get some resolution to brexit and it and i don't even think it really matters what the resolution is just that we get some so we may have more of this

Kind of choppy downward slope uh i'm thinking 132 is a very real possibility the biggest problem with trading this pair is going to be is very volatile to begin with let alone when you have rumors on

Twitter and everything else making algos jump around so i do favor shorting rallies but position sizing is going to be crucial here

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