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Technical Analysis

GBP/JPY Heading Towards Major Resistance

Typography

GBP/JPY rallies and approaches next upside targets. Price increased more than 250 pips today as the Cable received a helping hand from the UK’s inflation data. The figures have come in better than expected and have boosted the price. Price is approaching the red line, where he could find temporary resistance again. Could be attracted also by the 150% Fibonacci line (ascending dotted line).

Author: MultiBank Exchange Group Website: http://www.mexgroup.com
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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