GBPJPY - Heading for 200

FX:GBPJPY   British Pound / Japanese Yen
840 4 15
After a crazy ride, GBPJPY             declined to value, where a reasonable long can be initiated. Until this pair will break strongly, this is still an uptrend and only long positions should be taken unless there are clear bearish signals combined with an over extended price. It is not the case right now, both the daily and the weekly charts are in line, and they are both bullish . Minor resistance at 190, 192, major resistance at 200.
Still looks fine.
I agree, more likely to continue up for the time being at least.
Hi Vlad, What do you think of the probabilities of a move to 165 over the next couple of months after a move up to 183.50 area?
vlad.adrian kilo1romeo
I think it is less probable than a move to 200. Possible, as anything is possible in the markets, but not probable.
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