Is GBPJPY Headed Higher?

Updated

GBPJPY is moving higher for the last two trading days and is currently breaking the channel resistance line of a second zigzag which can be an important evidence for more upside in days to come. Keep in mind that drop from April high was in seven swings, which is a corrective subdivision so gains are expected while the recent swing low holds. However, nothing moves in straight line so be aware of an intraday pullbacks, especially during UK data, which is always trying confuse traders with intraday flows and spikes.

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GBPJPY UPDATE!

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