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.
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.