GBP/JPY Classical Technical Report 02.16
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 119.60 and 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
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