GBPJPY – rebound likely
GBPJPY has been trading in a higher top higher bottom formation since last few months suggesting the trend to be bullish. The pair has experienced some correction since 6th April, but currently stands at the upward sloping trend line indicating a rebound in the offing. It would be prudent to say that GBPJPY could advance towards 151.50 and 152.50 while it sustains above 149.50.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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