Oh Snap! - UK Election in time for Christmas? GBPJPY
On a Daily time frame for GBPJPY, the British Pound rose a little against the Japanese Yen but could not get past resistance at 61.8% Fibo, around 140.343. The 200EMA is now acting as support at the 50% Fibo level, around 137.707. RSI is slightly below overbought, and ADX is showing us a strong Bullish trend.
Being mindful, that Sterling cross currencies will remain volatile due to political factors, currently the situation for GBPJPY points to the upside, once the pair gets past resistance at 141.507, next targets up will be 143.817, followed by 145.396 and 146.508. Support is at the 50% Fibo level and 200 EMA around 137.707.
Being mindful, that Sterling cross currencies will remain volatile due to political factors, currently the situation for GBPJPY points to the upside, once the pair gets past resistance at 141.507, next targets up will be 143.817, followed by 145.396 and 146.508. Support is at the 50% Fibo level and 200 EMA around 137.707.