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GBPJPY SWING IDEA LONG

Given the hard rally off the September lows, GJ continues upwards momentum this week pushing back into resistance around 169.00.


The daily timeframe shows some consolidation however I find it unlikely the single print high from October at 172.00 will remain untested.


Therefore yesterdays dip has merely provided an opportunity to buy back into this more recent uptrend as long as we hold 166 (final support)


Upside rallies likely met with resistance at 169.00 however pushing on from there its highly probable we will continue upwards to 172.00 once again. A breakdown of 166.00 will bring could pave the way lower, although unclear how this may develop for the time being.




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