GBP/JPY - Is breaking the long-term resistance-line
GBP/JPY is now breaking the long-term resistance-line near 144.10. A break above this resistance-line confirms continuation higher towards 147.90 and above here confirms a rally to at least 161.03.
Comment:
The resistance-line near 148.00 is now being broken too calling for much more upside.
I do expected the rally from 139.28 to take a breather near this resistance-line, but after a few days of consolidation near this resistance-line, the next impulsive rally higher towards 161.00 remains expected.
Hang on an enjoy the ride higher.
I do expected the rally from 139.28 to take a breather near this resistance-line, but after a few days of consolidation near this resistance-line, the next impulsive rally higher towards 161.00 remains expected.
Hang on an enjoy the ride higher.
Comment:
No time for a consolidation near 148.00. Still think the strong rally from 141.32 could need a pause and a revisit to the breakout point near 148.00. If seen it's a nice buying opportunity for the next rally higher towards 161.00.
If long already, then hang on to your long position.
If long already, then hang on to your long position.
The break above the long-term trend line resistance released a massive amount of energy and a test of the next hurdle near 148.00 should soon be seen. I do expect this resistance to be broken too, but we need a little time before it's cleared.
There is no signs of a top yet, so hang on...