seekingpips

Strength Continues in GBPJPY MID Term Target Still In Play

Long
FX:GBPJPY   British Pound / Japanese Yen
GBP/JPY Has been great to trade the past few months sticking with Our MAJORS CURRENCY HEAT MAP which we update daily & share for FREE.

We have been able to focus on one side of the MARKET at just being a BUYER of this PAIR.
There has been no reason to look for SELLING this pair as JPY has remained at the bottom of the MAJORS along with CHF, for a good while now.
GBP STRENGTH has been consistent too leading the board along with AUD.

Out of the EUROPEAN majors GBP has left EUR & CHF behind. It's strength against these two can easily be seen in both EURGBP & GBPCHF

Therefore we remain with out BULLISH GBP bias & are trading it against selected weaker MAJORS currently they are GBP-JPY and GBP-CHF

Since retesting 149.400 last FRIDAY 05 /03/2021 GBP JPY has continued towards are MID term TARGET at 153.150
There was also a very clean and text book break and RETEST re-entry trade offered on Tuesday 09/03/2021 when last weeks high was retested.