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GBP/JPY: 'Double Top' led to decline

GBP/JPY: 'Double Top' led to decline

Information is not investment advice

The market has been declining since the last 'Double Top' formed. Also, there's a bearish 'Pennant' pattern, so it's likely that the market is going to reach the next support at 140.61 in the coming hours. The subsequent pullback from this level could lead to an upward correction towards the nearest resistance at 142.40 - 142.72.

15-5-2019-GBP-JPY-H4.png

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AUD/JPY may fall further

AUD/JPY is in the downtrend since the start of the year. It was capped on the upside by all the three important moving averages on the D1.

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