The GBP/JPY pair rallied during the week, slamming into the 140 handle. If we can break above the 141 level, I think that this market goes much higher.
The GBP/JPY pair rallied during the week, slamming into the 140 handle. If we can break above the 141 level, I think that this market goes much higher. Pullbacks should be buying opportunities unless we can break down below the low of the week. Ultimately, I believe that this market should continue to find buyers as a British pound itself has strengthened so much. Remember that this pair is highly sensitive to risk appetite, so you will have to pay attention to stock markets as well. Ultimately, I think the real prize is somewhere near the 150 handle.
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.
