GBP/JPY
The United Kingdom pound – Japanese yen pair showed excessive weakness during the wave of price drops that hit the financial markets.
If the pair begin an upwards movement above to 1.2500 (weekly close), our close resistance level will be placed at 127.80 and this will be used as our price target for an initial realization. Later is expected to reach the significant resistance level at 131.50 – a level at which the pair was stopped in its not so distance past.
