GBP/JPY
The wave of drops across the markets brought the United Kingdom pound – Japanese yen pair all the way to its lowest and critical support levels in the region of 128.50. The assessment is that so long as the pair is traded above the critical level of 128.50, it is worth a buy position with views towards price rises to the high levels of 135,00 and 140.00.
In the event of a daily closure above the support level of 128.50, this will constitute an indication for a change in direction and the start of a move in the opposite direction upwards and towards the resistance level of 133,40.
