GBP/JPY Classical Technical Report 05.31
GBP/JPY:Market setbacks in May have been very well supported on dips below the 100 and 200-Day SMAs and we look for the formation of a fresh medium-term higher low by 130.30 ahead of the next major upside extension back towards and eventually through 140.00. In the interim, any intraday setbacks should be well supported in the 132.00 area.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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