The GBP/JPY pair had a back-and-forth type of week, but most important we found enough support at the 158 level to turn the market back around. Because of
The GBP/JPY pair had a back-and-forth type of week, but most important we found enough support at the 158 level to turn the market back around. Because of this, looks as if we are trying to break out, but it’s not until we clear the range for the week that we should see continued bullish pressure. In the meantime, it’s not until we get that this market can be bought from a longer-term perspective. As far shorting is concerned, it can probably be done off of the shorter-term charts such as the daily or even the 4-hour chart.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
