GBP/JPY Forecast October 19, 2016, Technical Analysis

The GBP/JPY pair broke higher during the course of the session on Tuesday, testing the 128 level. If we can break above here, I think that there is a significant amount of resistance all the way to the 130 level above, some waiting to see whether or not we get some type of exhaustive candle in order to start selling again. I don’t think we’re going to break above the 130 level anytime soon, so at this point in time I am waiting to see selling opportunities going forward. Being patient will be paramount. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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