The British pound rallied against the Japanese yen during the week, slicing through the 145 handle. We broke above the top of a hammer from the previous
The British pound rallied against the Japanese yen during the week, slicing through the 145 handle. We broke above the top of a hammer from the previous couple of weeks, and that is a very bullish sign. The 148.50 level looks likely to be resistive, so a pullback to build up enough momentum makes a lot of sense. We will of course have headlines coming out of the negotiation between the United Kingdom and the European Union that can affect this market, but it looks currently as if the buyers are starting to step up pressure yet again.
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.
