Today, GBP/JPY reached a low of 138.40 and was supported by the fundamentals thus reaching an intraday high of 139.61. However, the move to the upside was short-lived as price has now retreated to lower levels around 139.30.
Main trend remains neutral and market participants would need to go above 140.50 or below 138.50 in order for a trend to begin a formation.
Chart: GBP/JPY H4
Great analysis as usual!
ReplyDeleteIt's range-bound for the moment.
ReplyDeleteGreat analysis very helpful.
ReplyDeleteI will watch those levels, thank you.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteNeed more confirmation to decide direction.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteGreat post! I fully agree with your view.
ReplyDelete