Sterling Yen Rally?

Dear Dynamic Traders,

Hope you are having a great trading week so far. The GBPJPY has been on my watchlist and yesterday price broke through an area which price has tested on several occassions in the recent past. Price has moved up over 2400 pips in two months. If this proves not to be a FBO then the next resistance could be around the 148 mark and then the big RN.















Having seen the recent bullish bars on the daily chart above, the 240 chart below shows a possible breather. MACD is showing divergence. As we all know price does not move up in a straight line so this could be the consolidation before the next step up.














Great Trading!
Bijal Shah

Visit our other blogs:
www.fxcps.co.uk
http://www.fxcps.eu/
www.dynamictraderblog.com

Follow Javid on Twitter
Follow Anne on Twitter