GBPJPY once again found resistance at 143.70 last week. Buyers managed to take it up to 143.93 on Friday, but the sell-off into the weekend was a sign that sellers are still in control. However, it’s not yet clear if the 142.40 area was broken as Friday closed at 142.37 and too close to make a decision yet! I’m going to be patient and if the pair closes well below 142.30 on Monday, I will look for sells on a re-test of this level as new resistance. If the pair close on Monday above the 142.40 area, I will stand on the sideline and wait for a more clear selling opportunity, but as long as 143.70 hold as a resistance on a DAILY closing basis, I remain bearish. Off course, we can expect more volatility this week with the British election looming, but I don’t trade or care for “polls”, and will take action as per my analysis and when GBP shows clear signs of weakness and JPY clear signs of strength.

2 thoughts on “GBPJPY – DAILY 4 JUNE 2017”

  1. Mr Shake 'n' Bake says:

    Thanks for your ideas. I really love them.

    1. Maryna says:

      Thanks for the positive feedback, Mr Shake ‘n Bake!! What is your “real” name?

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