GBP/JPY forecast for the week of July 3, 2017, Technical Analysis
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.
GBP/JPY Video 03.7.17
This article was originally posted on FX Empire
More From FXEMPIRE:
Terms and Privacy Policy