Last week the pound broke 1.30 nicely and closed at 1.31 taking it to new 2017 highs. This recent uptrend in cable has brought gbpjpy to a strong daily resistance after a big move on Friday making a higher low and higher high. I expect the resistance zone at 147.750 to be tested and possibly broken if the pounds strength can continue. I wouldn't be looking to go short until the TL is broken and the Yen rises more against USD which it could based on recent USD fundamentals and price action.
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GJ broke trend, currently in demand zone. Will look for a retest of the TL for more downside
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The bitch is falling.. currently at a major demand zone. Has some momentum but we havent broke yet