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Big movement possible on GBPJPY after a breach of 194.0700

GBPJPY has broken through a resistance line. It has touched this line numerous times in the last 8 days. This breakout shows a potential move to 194.8174 within the next 2 days. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.

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ETHAUD is approaching 4012.0801. We expect either a breakout through this line, or a rebound.

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We expect GBPUSD to trend downwards for the next 48 hours.

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