The GBP/JPY pair found the 140 level to be overly resistive, so we pulled back. At this point, I believe a break above the 141 level is the next sign that
The GBP/JPY pair found the 140 level to be overly resistive, so we pulled back. At this point, I believe a break above the 141 level is the next sign that we are going higher over the longer term. Either way, I don’t have any interest in shorting this market as we have seen such a massive moved to the upside. A break above the 141 level should send this market looking for the 143 handle. I believe that the 139 level below should be supportive as well. Either way, it’s going to be choppy
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.
