The GBP/JPY pair had a back-and-forth type of week, but most important we found enough support at the 158 level to turn the market back around. Because of
The GBP/JPY pair had a back-and-forth type of week, but most important we found enough support at the 158 level to turn the market back around. Because of this, looks as if we are trying to break out, but it’s not until we clear the range for the week that we should see continued bullish pressure. In the meantime, it’s not until we get that this market can be bought from a longer-term perspective. As far shorting is concerned, it can probably be done off of the shorter-term charts such as the daily or even the 4-hour chart.
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.
