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Instrument: GBPJPY
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 153.942 with take profit at price 154.044.
Bearish Preference:
A sell position is envisaged if price trades below price 153.793 with take profit at price 153.690.
Fundamentals:
No major fundamental.
Comment: Fresh yearly highs emerged last week, and it appears that some basing may be occurring above the former yearly high set at the start of April. The daily EMA envelope is converging into the former high at 153.41, which also was the daily bearish key reversal candle high on April 6.
Analysis: SCRUM Team
