GBPJPY Divergence and Channel Resistance

Published July 23rd, 2009 - 09:11 GMT
Al Bawaba
Al Bawaba

The relentless GBPJPY rally has reached the top of a short term channel that defines the rally from 152.30.  This, along with momentum divergence with recent highs favors at least a pullback and retracement of the rally from 152.30.  Initial support is at 155.50.