Forex: GBPJPY [Technical Comment] « GAFX

Based on M5 chart time frame, GBPJPY looks as if the recent consolidation after testing key support at 133.11 will result in a rebound to initial resistance at 133.60. A breakout above 133.60 will not come easily, but a successful move will place 134.04 as the next level to watch. A failure to pass 134.04 should see it slide back to or very near the support at 133.33. (HP) Email Print