The GBP/JPY pair is still stuck in a massive range. The pair is currently at the 133 level, and has printed a couple of bullish days in a row. The pair looks like it is supported by the central banks, but has major resistance at the 135 level. The 125 is certainly some kind of floor, and as such – this pair is going to trade between these levels. The pair looks likely to test 135 soon. However, a trade isn’t advised all the way up here.
Originally posted here
