Dear Traders, when GBP/JPY was trading at 133, I highlighted the increasing possibility of bulls taking the price to 135.50 resistance level and breaking it.
As you can see, it is mid-week and Bulls have already broken 135.50 and even reached 137.
The uptrend is intact. But, some profit taking by the early buyers and correction can happen here.
If GBP/JPY makes a correction towards 135 level, new buyers can enter again and push the price towards 140 area.
145 still remains a long-term target.
The uptrend is intact. But, some profit taking by the early buyers and correction can happen here.
If GBP/JPY makes a correction towards 135 level, new buyers can enter again and push the price towards 140 area.
145 still remains a long-term target.
