Back
2 Aug 2013
GBP/JPY, above 150.90, targets 151.84, 152.90 - 2ndSkies
FXstreet.com (Barcelona) - GBP/JPY found support ahead of the 148.00 proven support area, mainly on broad-based Yen weakness, with price surging as high as 150.70 before a retracement towards 150.30 at present.
According to Chris Capre, Founder at 2ndSkies: "The intraday charts are showing consolidation after the large impulsive move, suggesting more upside. Any pullbacks towards 148.50/30 area would be potential places to go long. In terms of upside resistance, once it clears 150.90, 151.84 and 152.90 will be up next. Short term, we favor the upside, but NFP tomorrow can be a game changer so try and neutralize risk ahead of the announcement."
According to Chris Capre, Founder at 2ndSkies: "The intraday charts are showing consolidation after the large impulsive move, suggesting more upside. Any pullbacks towards 148.50/30 area would be potential places to go long. In terms of upside resistance, once it clears 150.90, 151.84 and 152.90 will be up next. Short term, we favor the upside, but NFP tomorrow can be a game changer so try and neutralize risk ahead of the announcement."