The GPBJPY is at key Support / Resistance at 131.1630 which is the Weekly Pivot Point. This price level has been important over the last few weeks.
Daily M2 is providing support at this level as well at 131.1965. There is a fibonacci study from the Daily View that is providing support at the 78.6 retracement level. If this support zone holds we should see bullish momentum in the Asian Session today. If these price levels don’t hold we should see strong bearish momentum away from this support / resistance zone. Either way, I think the GBPJPY is going to be hot in the next few trading sessions.

Tyler Lund

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