GBP/JPY broke major support at 174.20 in Wednesday's trade and edged lower.
- The pair hit session lows at 172.19 before paring some losses, currently it is trading around 172.82 levels.
- Next major support below 174.20 levels is at 172 (trendline joining 175.78, 175.75, 175.50, 174.88).
- Bias is definitely lower, RSI on dailies is around 11, its weakest level last seen since May 2012, major moving averages are all biased lower and price action is well below the cloud.
- Further weakness can be seen on breaks below 172 levels, Oct 22 lows at 171.06 next bear target.
Recommendation: Hold short position as per our previous call, lower stops to 174
http://www.econotimes.com/FxWirePro-GBP-JPY-breaks-major-support-at-17420-decline-till-171-is-possible-138545


Bitcoin on Edge: Geopolitical Tensions Weigh on BTC as Bulls Eye the USD 64,000 "Buy the Dip" Zone
FxWirePro: USD/JPY stuck in narrow ranges amid intervention risks
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/USD slips to four-month low with plenty more downside potential
Dollar Resurgence Propels USDCHF Above 0.8000: Technicals Signal Continued Bullish Momentum Toward 0.8150
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: EUR/USD slips as Iran conflict fuels inflation fears
FxWirePro: EUR/AUD eases slightly but trend is still bullish
FxWirePro- Major European Indices
FxWirePro: GBP/NZD uptrend loses momentum but bullish setup remains
FxWirePro: NZD/USD slides further as outlook continues to deteriorate
FxWirePro- Major Crypto levels and bias summary
Sterling’s Six-Week Streak Snaps: GBPJPY Slumps Toward 210.00 as Bearish Momentum Intensifies
FxWirePro: USD/ZAR loses momentum but outlook is bullish
Ethereum in Consolidation: ETH Trapped in Narrow Range as Bulls Await the USD 2,000 "Buy the Dip" Opportunity 



