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GBPJPY – Continues to Build The Upside
Still truckin’ along, the GBPJPY today broke out of a major resistance level at 159.88 that’s held the upside in check for almost two months. With the 20ema carrying price action for the last 6 days, and now clearing that resistance, I’ll be looking for a breakout pullback setup at 159.90, so only a bullish bias here until we get a daily close below 158.50. First upside target is 162 which goes back to the June 27th high, and a second upside target of 162.84 which is the high for 2009.
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