Not understand?better not follow my analyses!doubt clearer first, risks ++
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GBPJPY: Sellers Unlikely to Back Off Anytime Soon
It was a big week for the GBPJPY. On Wednesday, the pair broke from a long-standing ascending channel. I mentioned this pattern on May 4 and again in the May 13 weekly forecast. A couple of weeks ago we had a healthy debate about whether this was a bullish or bearish structure in the member’s area. I maintained the stance that the price action since the 2017 low was merely consolidation in the form of an ascending channel. That consolidation, by the way, began following the massive 7,000 pip decline that started in mid-2015. I wrote a Q&A post on this very topic which I’ll publish within the next 24 hours. For ... (full story)