The British pound fell initially on Tuesday to reach down towards the 50 day EMA yet again. This is an area that has been crucial for support over the last couple of weeks, and it does look like it is starting to try to come into play. The ¥135 level continues to be crucial for the market, and therefore I think that we will be paying close attention to it. To the upside, I see the 200 day EMA offering a lot of resistance, so if we were to break above that indicator, painted black on the chart, then it opens up the possibility of a move towards the ¥140 level.
GBP/JPY Video 15.07.20