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GBP/JPY Classical Technical Report 02.08

GBP/JPY Classical Technical Report 02.08

Joel Kruger, Technical Strategist
Daily_Classical_GBPJPY_body_gbpjpy2.png, GBP/JPY Classical Technical Report 02.08

GBP/JPY: The cross continues to show evidence of the formation of a meaningful base, with the recent break back above 122.05 confirming a fresh higher low by 119.60and opening a fresh upside extension towards 124.50 over the coming sessions. Look for setbacks to now be very well supported by the 20-Day SMA.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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