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The beast (otherwise known as the GBPJPY pair) has gained 10 out of the last 12 days communicating the bounce off the lows has some decent buying behind it. What is interesting to me from an Ichimoku perspective is how 3 of the last 8 days the dips touched to the pip the daily tenkan line, finding support there and closing higher off each rejection. This tells me the pair is underpinned on the short term, and the tenkan is confirming this further by turning upward, suggesting short term momentum is also behind the pair.
We expect this bullishness to continue, either till the end of the week, or end of June where we expect the pair will run …... Keep reading