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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