Instrument: GBPJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 151.362 with take profit at 151.562.
Bearish Preference:
Sell position is envisaged if price trades below 150.820 with take profit at 150.620.
Fundamentals:
None with high impact
Comment: The British pound has rallied a bit during the trading session on Tuesday but has given back some of the gains to show signs of hesitation yet again. Ultimately, this is a market that is trying to figure out whether or not it can hang onto the uptrend, or if a much deeper correction is needed.
Analysis: SCRUM Team