Hello traders, GBP/JPY's uptrend shows no signs of slowing down. As we had
predicted in the previous idea, price has a strong support on the 190$ price
The uptrend is being fueled by the ultra-low interest rates in Japan which is weighing
negatively on the JPY.
That being said, there is a key level at 193.50 zone which could offer resistance.
Keep in mind that a vast majority of retail traders as shorting GBP/JPY which means
price can continue to move up as the market usually moves opposite to what the retail
does.
predicted in the previous idea, price has a strong support on the 190$ price
The uptrend is being fueled by the ultra-low interest rates in Japan which is weighing
negatively on the JPY.
That being said, there is a key level at 193.50 zone which could offer resistance.
Keep in mind that a vast majority of retail traders as shorting GBP/JPY which means
price can continue to move up as the market usually moves opposite to what the retail
does.