GBP/JPY: higher low after the breakout

After a bullish breakout from it recent range the GBPJPY pulled back to the 50% fibo level of the previous upleg. The higher low suggests that the pair will extend the current upmove. I missed this chance for a long entry, now waiting for the next pullback to join the bulls.
The sterling seems extending its up recent gains against the dollar as well therefore the long side seems to be the right side at the moment.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: