Like all Jpy pairs, GbpJpy also reversed strongly from support yesterday.
Now the pair is trading in a resistance zone, but, considering the power of reversal from yesterday, in my opinion, this resistance will fall.
At this moment GbpJpy is correction yesterday's up move, and this drop could offer traders a good chance to enter buy trades at a good price.
My target for GbpJpy is 165 zone and a drop under yesterday's low would negate this bullish scenario
Now the pair is trading in a resistance zone, but, considering the power of reversal from yesterday, in my opinion, this resistance will fall.
At this moment GbpJpy is correction yesterday's up move, and this drop could offer traders a good chance to enter buy trades at a good price.
My target for GbpJpy is 165 zone and a drop under yesterday's low would negate this bullish scenario
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