GBPJPY Analysis

28 Ağu 2020

Despite yen strength, the price of Gbpjpy is holding up. Depending on where it closes today and on Monday, we will have a better view of where is more likely the price to move next week. If it closes above 141, it is opening a new window of trading in a range of 141-145 (blue rectangle). Closing below 140 we are back to a red rectangle and a higher possibility of testing 138.50. As long as it holds that level we are still in a healthy uptrend. it is quite a volatile pair so be always on the lookout for Brexit, coronavirus or any other news that can quickly change the daily sentiment.