-
GBP/JPY Price Forecast - British pound showing consolidation against yen
The British pound has initially pulled back during the day on Thursday, breaking down below the ¥132 level, before turning around and reaching towards the 50 day EMA. The 50 day EMA is currently at the ¥132.50 level, an area that of course will attract a certain amount of attention. Because of this, the market should be paid attention to for the next day or so as it could give us a signal as to where we are going next. Longer-term, it’s obvious that we are in a downtrend but a break above the 50 day EMA on a daily close after the jobs figure on Friday could be reason enough to reach towards the ¥135 level. The ... (full story)