Gbp/Jpy

as many other currency, pounds are weakened against the yen and already reach 128.1 on my chart, i expect further decline to 126.4 at the asian market open tomorrow, and probably will closed at this week low at 125.2:)

i think traders on this pair can go short deals below 128.9 level with targets at 127.5 and 126.65 in extension.

but if the price head above 128.9 level look for further upside with 130.25 and 130.85 as targets.

good hunt

On the upside, break of 135.11 resistance will signal that rebound from 122.15 is resuming. Decisive break of 140.02 resistance will now confirm medium term reversal and should start the third leg of consolidation pattern from 118.81 for 163.05 resistance and above.

the pair has succeeded in breaking 128.00 and reached 128.50 , so that's mean the up trend is still standing and the pair might head to 128.80 and the 129.00

We take this correction just as correction and we expect some more upward movement during this week but we maintain what we said last weekend (quoted above) that we expect the upward correction to be limited to 128.80 level."

GBP/JPY formed at short term bottom at 124.18 and rebounded strongly on Japan intervention last week. The breach of 130.27 resistance was brief and GBP/JPY fails to sustain above the falling 55 days EMA so far.

The United Kingdom pound – Japanese yen pair yesterday broke through its trend line which has accompanied the pair during the long lasting and deep wave of price drops from record levels of 140.00

after an intervention effect that make all Yen pair go UP, there is retrace based on friday movement.
looking for buy opportunity around fibo 50 - 61.8% area.
support will be 127 - 127.50 area.

As a result, a drop to the strong support level at around 125.70 can be seen as an excellent entry point when looking at it from the long term point of view. However, it is important the restrict the position up to the critical support level for the pair which can be found at 124.00 yen to the United Kingdom pound

the pair has succeeded in closing it's weekly candle above level 128.00 , and that's mean the up trend is still standing and the pair might head to 128.70 and then 129.00 , good luck .