Dear traders, if you have been following my updates you already know that we have been
selling GBP/JPY since the price hit 168.40 and we have secured 800 pips profit when price dropped to 160.
Since then, GBP/JPY has retraced quite strongly after hitting the 100-day EMA at 160.
Currently, GBP/JPY is in a tricky area and it is a little difficult to anticipate the next move.
That being said, 166 is a minor resistance level and I might try a small sell only if bearish price
action happens at 166.
selling GBP/JPY since the price hit 168.40 and we have secured 800 pips profit when price dropped to 160.
Since then, GBP/JPY has retraced quite strongly after hitting the 100-day EMA at 160.
Currently, GBP/JPY is in a tricky area and it is a little difficult to anticipate the next move.
That being said, 166 is a minor resistance level and I might try a small sell only if bearish price
action happens at 166.