24 Jul 2014
GBP/JPY: Upside open for extension - JPMorgan
FXStreet (Bali) - According to Thomas Anthonj, FX Strategist at JPMorgan, the upside in GBP/JPY remains open for an extension towards 183.98 and 185.01.
Key Quotes
"The upside remains open for an extension towards 183.98 and 185.01 (50 %/monthly Ichimoku- lagging) as long as 172.38/02 (pivot/daily trend) is defended."
"A daily close (10pm CET) though would open the way for a deeper setback to 164.58/163.88 (int. 38.2 %/pivot) if not to 153.77/19 (int. 38.2 % on higher scales)."
Key Quotes
"The upside remains open for an extension towards 183.98 and 185.01 (50 %/monthly Ichimoku- lagging) as long as 172.38/02 (pivot/daily trend) is defended."
"A daily close (10pm CET) though would open the way for a deeper setback to 164.58/163.88 (int. 38.2 %/pivot) if not to 153.77/19 (int. 38.2 % on higher scales)."