76% of retail accounts lose money when trading CFDs with this provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Admiral Markets Group consists of the following firms:

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
CONTINUE

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
CONTINUE

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
CONTINUE
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Regulator asic CySEC fca

GBP/JPY is targeting sub 130.00 zones

August 15, 2016 13:04

The dragon - GBP/JPY currency pair is in a strong downtrend. The uncertainty of the GBP due to upcoming Brexit, with the already sensitive Yen due to stimulus in Japan and bullish trends in Equities, just add to the overall volatility of the GBP/JPY pair. Currently the GBP/JPY is close to L3 Weekly PP so we might see some bounce before next leg of selling. Traders should pay attention to 131.80-132.00 zone. (H3, WPP) for short trade setups. Additionally we have another confluence coming within 132.35-60 zone (23.6, H4 WPP, historical sellers, inner trend line). Both zones should provide short trading opportunities towards 130.00. If we see break of 130.00 than 129.80 is the next target followed by 128.72 where we should see a bounce.

Follow @TarantulaFX on twitter for latest market updates