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.
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.
