# GBPJPY Potential Reversal (Nov 26, 2014) Source: https://www.tradersway.com/resources/market-info/gbpjpy-potential-reversal-nov-26-2014/ Language: en Updated: 2014-11-26 Description: Explore GBPJPY Potential Reversal (Nov 26, 2014). GBPJPY formed a. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBPJPY formed a double top pattern on its 1-hour forex chart, hinting that a potential sellof is in the cards. The pair is still a hundred pips away from testing the neckline support at the 184.00 levels. A break below the neckline could send GBPJPY lower by as much as 200 pips, which is the same height as the chart pattern. Stochastic is heading south and indicating a pickup in selling momentum anyway, which suggests that a test of the neckline is possible. A bounce off 184.00 could lead to the formation of another top at the 186.00 handle, which could either lead to range-bound movement or a triple top pattern, which is still a valid reversal formation. Both the BOE and BOJ are holding dovish biases, as the former shifted to a more cautious stance while the latter actually implemented additional easing recently. ![GBPJPY Potential Reversal (Nov 26, 2014)] Event risks for this trade setup today include the release of the U.K. second GDP estimate, which could see no change at 0.7%. There are no major reports up for release from Japan, leaving yen pairs sensitive to risk sentiment as well. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbpjpy-potential-reversal-nov-26-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpjpy-potential-reversal-nov-26-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpjpy-potential-reversal-nov-26-2014/", "headline": "GBPJPY Potential Reversal (Nov 26, 2014)", "inLanguage": "en", "datePublished": "2014-11-26T06:08:37+00:00", "dateModified": "2014-11-26T06:08:37+00:00", "articleSection": "Market Info", "description": "Explore GBPJPY Potential Reversal (Nov 26, 2014). GBPJPY formed a. 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