Watchout for the 165 support level.
Currently the GBPJPY is rebounding at this point, following the rebound in the GBPUSD. However, if the GBPUSD reverses towards the downside, it could bring the GBPJPY lower too.
Look for price to break and close below 165 before selling down, with significant downside potential, similiar to what happened on the 13th June.
Next support is at 162.00
Currently the GBPJPY is rebounding at this point, following the rebound in the GBPUSD. However, if the GBPUSD reverses towards the downside, it could bring the GBPJPY lower too.
Look for price to break and close below 165 before selling down, with significant downside potential, similiar to what happened on the 13th June.
Next support is at 162.00
Trade closed: target reached
