The Gbp/Jpy is bullish yes but I wouldn’t be too confident just yet. The pair has continually tested the 145 resistance level to be shut down every time. We are currently testing that area on the open this week. Watch the 145 level with much interest and if the pair breaks down to lower levels this current attempt to reverse direction in this pair may be held off.
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The 145 level has been tested 3 times in recent trading history. If we get a bounce look to go short with a stop above 145. If 145 gets broken that could be the start of a new up trend with a short term target of 150.
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