On a higher timeframe, we still have bullish momentum and structure on the GBPJPY. In order to look for shorts, the daily/ weekly support levels need to be breached. Until they are breached, we continue looking for longs up to 154.50.
Fundamentally, the GBP economy slowed down this previous month but due to the on going vaccinations, we might soon see a lift off on the bans which would further trigger the GBP and CPI for UK which means, continuing bullish momentum.
Fundamentally, the GBP economy slowed down this previous month but due to the on going vaccinations, we might soon see a lift off on the bans which would further trigger the GBP and CPI for UK which means, continuing bullish momentum.