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fxspott
May 10, 2021 10:17 PM

GBP/JPY: IDEA 

British Pound/Japanese YenFXCM

Description

Here is an analysis on GBP/JPY

Currently @ 153.600

We expect the pair to retrace to at least 152.9 which is the 38.2% Fib Ret. before continuing its bullish trend
If the pair falls below 152.9 we'd expect it to test 152.2 and treat this level as support.
The pair is still bullish @ the moment, a bearish move will be confirmed if pair breaks & trade below trendline
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