GBP/JPY Weekly Forecasts

 

The British pound has broken down significantly during the course of the week, slicing through the ¥145 level. However, we turned around to form a massive hammer. If we can break above the top of the hammer, I think the market probably goes towards the ¥150 level again.

The overall attitude of the market has been negative over the last several weeks, but with the Americans and the North Koreans meeting in the next couple of weeks, I think that we have a high probability of the risk attitude of market participants pushing this market higher

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