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
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
