GBP/JPY
The United Kingdom pound – Japanese yen pair that fell all the way from 130.70 down to 125, can still be found very close to its record low level and so, the expectation is that the pair still has a long way to go upwards. The pair shows a pattern bullish. A clean break to the line that passes close to 127.80 or back to the level of 126.30. would be the entry points that such a breakthrough can be expected to push the pair forwards towards the short term price target that we set for the pair relative to the first significant resistance level at around 129.70.
