GBPJPY 8 hr -
More of a follow through off the USDJPY chart - Incase the USDJPY does end up been lower and into the 109.XX zone; would expect the GBPJPY down to lower 135.XX as well. This just comes in as a base of what appears to be a falling wedge ( T2 & T3 ) on the first chart and a break carries potential surge up to 144.XX..
Again; this is in comparison to the USDJPY which if end up doing a 109.XX can see a possible lower stab on the GBPJPY; before a surge higher.
Offcourse a close eye on the Brexit and Article 50 need to be carefully watched and the reaction it can carry.. A move under 135.10-15 would be catastrophic for the pair.
Tahir Khan, or better known online as Stryker has been dealing in the global markets for 15 years. He as developed extensive knowledge in FX / Indices / Commodities and Futures. He is one of the most active members on some of the best Forex forums in the world.
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