GBP/JPY: market broke all Moving Averages

Information is not investment advice

The price has been rising since the last 'Triple Bottom' was formed. The market has broken all the Moving Averages and there's no any reversal pattern so far. In this case, we should watch the nearest important resistance at 146.28 - 146.54 as a possible bullish target. If a pullback from this area happens next, there'll be a moment to have a bearish correction towards 145.48 - 145.01 and the Moving Averages.

Sergey Logachev

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