GBP/JPY: Levels, Ranges, Targets

 

The first point of note in GBP/JPY is the bottom at 132.02 is holding. This is the long point. Below 132.02 then next comes 131.50, 131.36 and 131.22. Above targets are located at next 132.76, 132.82 and 132.96.

Above 132.96 then comes 133.09 and 133.54. The point 133.54 is top channel for today and a big level because a break opens the flood gates to the overall vital break at 134.66.

Overall, GBP/JPY base is found at 129.91 and supports at 130.39 and 130.38.

 

Brian Twomey, Inside the Currency Market, btwomey.com

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