GBP/JPY Classical Technical Report 10.31
GBP/JPY: This market is well on its way to establishing a major base following the intense rally beyond the 122.50 area. Next key resistance comes in by 130.85 and a break above will likely accelerate and open the door for a test of critical 140.00 barriers further up. Any setbacks should be well supported by previous resistance at 122.50, with only a break below 120.00 to negate outlook and give reason for pause.
--- Written by Joel Kruger, Technical Currency Strategist
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