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GBPJPY has managed to pull off a pretty decent comeback from it's low at 124. It is currently up more than 1100 pips from the lows.
Looking at the daily chart, the daily candles are getting smaller and smaller. So, are the bulls running out of steam here?
If that's the case then GJ might drop to 132 or even 130 in the next few days.
However, if GJ manages to break the 136-137 area strongly, then there's not much resistance till 145.
So, trade this pair very carefully.
GBPJPY has managed to pull off a pretty decent comeback from it's low at 124. It is currently up more than 1100 pips from the lows.
Looking at the daily chart, the daily candles are getting smaller and smaller. So, are the bulls running out of steam here?
If that's the case then GJ might drop to 132 or even 130 in the next few days.
However, if GJ manages to break the 136-137 area strongly, then there's not much resistance till 145.
So, trade this pair very carefully.
