Market Focus: GBPJPY
Today’s video report
The GBPJPY daily remains in a range and we discuss two views when looking at the current price pattern. It will be interesting to see what happens from both sides, (buyers and sellers). The leg up continues to slightly hold sway, suggesting the current range could be a continuation if buyers break higher above a few resistance points. If we see a break and close below today’s low, this could be putting new pressure on the range and could potentially set up a new lower continuation.
Tonight’s session could do a lot in answering a few remaining questions from traders.
Daily chart support and resistance to watch
Support – 132.44
Resistance – 133.70 – 134.00 – 134.40
Market Update Video