Monday, February 23, 2015

Possible bullish breakout on the GBP/JPY

The Pound versus the Yen has found a good resistance on the 184.00 level. This level has held the price back so far every time it reaches that zone, but let us keep in mind as the price keeps visiting the same resistance or support level, the chances of getting a breakout are higher. In case a breakout occurs, we could wait for the pullback for a possible long entry, but if the bullish momentum rises after the breakout, then the pullback may not have a chance to develop.


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