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Whats next for Gbp/Jpy..lets find out

We have seen huge upmove for gbp/jpy since 18 May. The pair has gained more than 600 pips/points as of today.
I have been able to cash on this move, however what do you guys think, will the momentum continue??

The US dollar index is dropping, that why we see these nice trending moves all over the board, on the Yen, Euro, British Pound, Canadian dollar, Australian and New Zealand dollar.

Thanks for the response LiveForex,
I think it still has bit of steam left, might give a run of 100_200 more pips after slight retracement of 30_50 pips.

Your are welcome.

What time frame are you using if I may ask?

1hr and 4hr, however lil consolidation seen on 1hr

To answer your question, the GBP/JPY is clearly trending on the 1h charts, and until we see a clear breakout of that support line (see red line on the chart below), it will probably continue its uptrend:

If we switch to the 15-min chart we have a possible breakout in progress on the GBP/JPY.
It could be a fake however.

@LiveForexSignals Target completed for GBP/JPY, after retracement of 40 pips its gone up by 200 pips, I will be booking profit here :slight_smile: and thanks for the 15mins chart breakout, turned out was a fake breakout.

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Yes it was a fake breakout indeed.
False breakouts in one direction usually generate strong moves in the opposite direction.

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