The GBP/JPY pair fell slightly during the course of the day on Thursday, as we found resistance yet again at the 162 handle. However, there is quite a bit
The GBP/JPY pair fell slightly during the course of the day on Thursday, as we found resistance yet again at the 162 handle. However, there is quite a bit of support below so a selling opportunity will more than likely show itself for short-term trades only. The 158 level below should be supportive, so any bounce or supportive candle in that area should be a buying opportunity as well. On the other hand, if we can break above the 163 level, we could continue to go much higher than that and be more or less a “buy-and-hold” type of market.
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.
