GBP crosses

GBP/JPY: Slightly overbought at present time

I’ve been long this pair since last week and I see scope for much bigger gains in coming weeks. Nevertheless it is looking a bit overbought on the 2-hr chart as it’s now trading above a recent parallel channel. Still looks bullish to my subjective eye but we might get a 50/60 pip pullback before next bullish leg begins.

  1. Yup. same opinion abt eur/jpy. it looks quite over stretched at 101.75. it was nice holding at 101.30 until some rumour came which took out the stops @101.50

  2. these rumours come before every boj meeting and to be frank usd/jpy will find it hard to cross 80 since they don’t have the ammunition like fed to weaken their currency

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