GBP/JPY Classical Technical Report 08.18
GBP/JPY: Market setbacks have been very well supported on dips below 125.00 and we look for the formation of a fresh medium-term higher low around the psychological barrier ahead of the next major upside extension back towards and eventually through 140.00. Ultimately, only a weekly close below 125.00 would delay and give reason for concern, while a daily close back above 126.30 confirms bias and should accelerate.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
If you wish to receive Joel's reports in a more timely fashion, e-mail firstname.lastname@example.org and you will be added to the "distribution" list.
If you wish to discuss this topic or any other feel free to visit our Forum page
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.