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GBP/JPY Forecast August 25, 2017, Technical Analysis
Updated: Aug 25, 2017, 04:33 GMT+00:00
The GBP/JPY pair rallied on Thursday, and broke above the 140 level again. However, we started to sell off during the US session, so it still looks as if
The GBP/JPY pair rallied on Thursday, and broke above the 140 level again. However, we started to sell off during the US session, so it still looks as if it is a “sell rallies” market. The British pound has a lot of bearish pressure on it overall, so out of all of the yen related pairs, I suspect this will be the weakest of the group. Ultimately, I suspect that the 139.25 level will offer support again, but if we break down below there we are probably looking at a move to the 138-handle next.
GBP/JPY Video 25.8.17
About the Author
Christopher Lewisauthor
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.
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