The GBP/JPY pair initially rally on Friday but turned around to form a red candle. This is a market that continues to grind a little bit lower, but I see
The GBP/JPY pair initially rally on Friday but turned around to form a red candle. This is a market that continues to grind a little bit lower, but I see the 50% Fibonacci retracement level as being very important. On the other day, we can break above the 141 handle, the market should be able to go higher. Currently, looks as if a slower drift to the downside is probably will we are going to see, especially with the Article 50 coming so soon. Supportive daily candles might end up being buying opportunities going forward.
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.
