In our last article, we looked at GBP/JPY attempting to claw-together an up-trend after two weeks of higher prices. And as the Yen was continuing to weaken on the expectation of additional monetary stimulus out of the Bank of Japan, the potential for a reversal of the Brexit-driven down-trend was alive and well. But at the time, price action was continuing to find resistance at a key Fibonacci level, and as we advised traders would likely want to wait for further confirmation of the up-trend before looking to trade the pair long. Last night’s Bank of Japan meeting did not bring the monetary bazooka that many were ... (full story)