FX.co ★ GBP/JPY: upside continuation in cards

GBP/JPY Natural Retreat!

The currency pair dropped a little in the short term and now is trading at 173.48 at the time of writing. Technically, the uptrend line represents a downside obstacle. As long as it stays above it, the GBP/JPY pair could resume its growth.

The 173.94 former high represents an upside target and obstacle. Still, in the short term it could move somehow sideways, trying to attract more buyers. Testing and retesting the uptrend line may announce a new upwards movement.

GBP/JPY Trading Conclusion!

Jumping above 173.94 should announce further growth. This is seen as a new buying opportunity.