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ForceFollower
Jan 8, 2014 11:19 AM

GBPJPY Possible Resumption of the Up Trend Long

British Pound/Japanese YenFXCM

Description

Two things can happen at the trend line: the price will either bounce off of it and continue upward or it will break it, retrace somewhat and the go down again. Anyway I think this market has got more potential to go up than down.
Comments
Ryan_Tyler
I also would like to see the retracement
ForceFollower
A retracement is OK, as long as in the end it resumes the up trend. One risk factor here is the potential of the yen to strengthen buoyed by the recent rise in inflation (an abenomics ricochet).
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