On weekly chart of GBPJPY broke both key support and trend line lasting since May 2012. Break itself was strong, it was done by forming mighty candle – black marubozu. It has very big body (in comparison to the ones before) and lack of shadow on the close price, when it breaks support it is a sign of further losses. If bears will keep control on this market, price can reach to the support at 167.00 and after break even lower.
THIS ANALYSIS WAS CREATED IN COOPERATION WITH XM BROKER. OPEN FREE XM ACCOUNT AND GET FREE $30 FOR YOUR TRADING.
