GBPJPY Technicals
GBP exploded to the upside against the JPY again, as we have seen the 139.00 level.
This is an area that we have seen selling in the past so I would welcome any pullback as a potential buying opportunity at lower levels. Of particular interest for me right now is the 137.50 level, where I see support on short-term charts.
I personally do not have any interest in shorting this market, because quite frankly we have seen such massive buying pressure.
A break above the 140.00 level opens up the door towards the 145.00 level.
That being said, I think that we need to pull back a bit before we get that move.
This is an area that we have seen selling in the past so I would welcome any pullback as a potential buying opportunity at lower levels. Of particular interest for me right now is the 137.50 level, where I see support on short-term charts.
I personally do not have any interest in shorting this market, because quite frankly we have seen such massive buying pressure.
A break above the 140.00 level opens up the door towards the 145.00 level.
That being said, I think that we need to pull back a bit before we get that move.
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