Long British Pound Yen Position $GBP $JPY #forex

6 feb 2015

GBPJPY found support at the 178.0 level. If you zoom out to weekly chart you would see a huge upward trend channel started back in 2012. It's a good opportunity that the trend holds and we see a upward move. From the fundamental point both National Banks BoE and BoJ are holding their interest rates at a record low.
TP1 185
TP2 189.4
SL 177