FX.co ★ GBP/JPY Bearish Outlook, February 22, 2011 (Daily Strategy)

GBP/JPY

The day yesterday we were the expectation for the breaking of the trendline in the pair British Pound - Japanese Yen, now we can say that our bearish outlook is standing, as the pair's price is below the weekly pivot, in 134.67 And as the momentum indicator shows us even deeper low, which may eventually lead the pair to support the significant level of 129.92 yen per British Pound.