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15 May 2015
GBPJPY: Corrective structure, still bullish - 2ndSkies
FXStreet (Bali) - GBP/JPY shows a corrective structure, with still bullish claims, notes Chris Capre, Founder at 2ndSkies.
Key Quotes
"For the last few days, the GBPJPY has been in a bullish corrective structure. I'm suspecting another bull leg up is on the cards."
"Besides the base of the ST corrective range, we have a key support zone between 185.87 and 184.18. This to me will attract bids who are looking to buy on a pullback."
"So I'm looking to get long on a pullback here. Upside my targets will be 188 and 189.45. Only a daily close below this zone would negate my MT bullish bias."
Key Quotes
"For the last few days, the GBPJPY has been in a bullish corrective structure. I'm suspecting another bull leg up is on the cards."
"Besides the base of the ST corrective range, we have a key support zone between 185.87 and 184.18. This to me will attract bids who are looking to buy on a pullback."
"So I'm looking to get long on a pullback here. Upside my targets will be 188 and 189.45. Only a daily close below this zone would negate my MT bullish bias."