Wednesday, May 27, 2015

Good bullish trend on the GBP/JPY

The Pound versus the Yen has kept a very organized up trend as we can see on the daily chart. The 189.74 has been a good resistance level in the past, and that is why the price is having difficulties breaking above that level. A breakout to the downside of the bullish trend line could give us an opportunity to go long or buy at the 185.00 level if the price drops to that zone, which in the past was a good resistance and it may become a good support. Below the 185.00 level, the 181.00 could be its next important support.


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