GBP/JPY has rallied nicely and is currently testing resistance at 148.49. This resistance should ultimately be broken as GBP/JPY continues higher to 151.50 and above. On the way higher solid resistance will be seen at 149.49 but this should be broken too, as GBP/JPY pushes higher.
Support is now seen 147.41 and again at 146.79
We are long GBP from 144.80 and we will move our stop higher to 146.00
The material has been provided by InstaForex Company – www.instaforex.com