GBP/JPY 66 Years

GBP/JPY 66 year lows for GBPJPY located at 119.30 at january 2012.
Post 2008 market crash range from lows 119.30 -130.00’s and many averages in between.
Precedent exists for lower easily however GBPCHF and GBPEUR trade at or below first ever recorded prices in 66 years.
And GBPUSD next average from 1984 is located at 1.1853.
Why GBPJPY approaches historic lows is because GBPUSD and GBPJPY are the same currency pair, always Correlates together extremely high and trades together as solid brothers, a marriage since the 1930’s under the 1930’s gold standard.
And since the BOJ pegged USDJPY to GBPJPY and Gold during the 1930’s.
Yet another  failed BOJ experiment as is their 100 year standard practice.
GBPJPY major break Point for higher is located at fast falling line at 137.14. Above Targets its longer term target at 147.00’s.
From current prices, 140.00’s can trade easily.
To technical analysis, as all GBP pairs drop, ranges expand, quite extraordinary circumstances.
Normally seen is range contraction. Means one spark and GBP Pairs are susceptible to 2 and 300 pip moves effortlessly
       Brian Twomey

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