GBPJPY - BUY - Cup & Handle
Hello traders,
The GBPJPY made a large recovery on the news a no-deal Brexit has been blocked by the UK Government.
There has been a nice cup shape recovery, followed by a retracement down to the 61.8% FIC level.
This is also a major support zone.
Johnson is now negotiating with the EU about the Irish boarder issue.
Any positive news coming from the negotiations can give the GBP further upside.
Long term target level is the 127% FIB level at roughly 137.00.
Please let us know any thoughts below,
forexstoreau.com
The GBPJPY made a large recovery on the news a no-deal Brexit has been blocked by the UK Government.
There has been a nice cup shape recovery, followed by a retracement down to the 61.8% FIC level.
This is also a major support zone.
Johnson is now negotiating with the EU about the Irish boarder issue.
Any positive news coming from the negotiations can give the GBP further upside.
Long term target level is the 127% FIB level at roughly 137.00.
Please let us know any thoughts below,
forexstoreau.com
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