HomeContributorsTechnical AnalysisGBP/JPY Another Breakout Attempt?

GBP/JPY Another Breakout Attempt?

GBP/JPY tries hard to stay higher and to take out the major horizontal resistance from the 151.66 level. Price failed to reach and retest the 150% Fibonacci line (ascending dotted line), signaling that the bulls are still in the game and could take control again. The perspective remains bullish as long as the price is located above this dynamic support. GBP/JPY could jump much higher if the Nikkei stock index will resume the upside movement.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

Featured Analysis

Learn Forex Trading