GbpJpy to break above important resistance (1k pips potential)
After the recent spike above resistance, GbpJpy corrected and dropped to 163.
However, since the recent low at the 150 zone back in September, the price evolution is constructive, with the pair putting in higher lows on our chart.
At this moment the price is exactly in horizontal resistance and I expect it to break above.
This bullish momentum is intact as long as the price stays above the 162.50 low and swing traders could target more than 1000 pips for their trades!!!! (180 target)
However, since the recent low at the 150 zone back in September, the price evolution is constructive, with the pair putting in higher lows on our chart.
At this moment the price is exactly in horizontal resistance and I expect it to break above.
This bullish momentum is intact as long as the price stays above the 162.50 low and swing traders could target more than 1000 pips for their trades!!!! (180 target)
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