GBPJPY is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If GBPJPY continues in its current trajectory, we could see it reach 189.2475 within the next 2 days.
A Channel Up has formed, GBPJPY is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
