The GBP/JPY pair initially tried to rally during the day on Friday, but found enough resistance to turn around and reach towards the 140 handle. Because
The GBP/JPY pair initially tried to rally during the day on Friday, but found enough resistance to turn around and reach towards the 140 handle. Because of this, looks as if we’re going to make a serious attempt on the support below. If we can break down significantly below the 140 handle, the market should then reach down to the 138.50 handle. Alternately though, we form some type a supportive candle or a bounce, I think we return to the 142 handle. Either way, it’s going to be very choppy as per usual in this 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.
