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FOREX ANALYSIS: GBPJPY Rallies Likely

FOREX ANALYSIS: GBPJPY Rallies Likely

David Rodriguez, Head of Product
ssi_gbp-jpy_body_Picture_13.png, FOREX ANALYSIS: GBPJPY Rallies Likely

GBPJPY – Retail forex traders continue selling aggressively into British Pound strength against the Japanese Yen, and such clearly one-sided sentiment leaves our short-term forecast in favor of further gains.

This lines up well with our USDJPY-bullish bias, and indeed it seems as though the Japanese Yen has further room to fall against broader counterparts.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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