The GBP/JPY pair went back and forth during the day on Wednesday, as we tested the 1.25 level for resistance. We ended up forming a somewhat neutral
The GBP/JPY pair went back and forth during the day on Wednesday, as we tested the 1.25 level for resistance. We ended up forming a somewhat neutral candle, and I believe that we will have a lot of choppiness in this area. The 1.25 level is very important, but if we can break above the 1.27 level the market will go much higher. A breakdown below the bottom of the range for the session on Wednesday could be a short-term selling opportunity though. Expect a lot of choppiness in this area, as we navigate the Article 50 affect.
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.
