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Instrument: GBPJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 156.744 with take profit at 156.965.
Bearish Preference:
Sell position is envisaged if price trades below 156.340 with take profit at 156.147.
Fundamentals:
No major fundamental
Comment: The British pound has been on fire against the Japanese yen over the last several weeks, and this of course has not changed. At this point in time, it is very likely that we will continue to see noisy behavior, but if we can break above the ¥158.50 level, that would be an extraordinarily bullish turn of events.
Analysis: SCRUM Team
