Wednesday market analysis: GBP/JPY

Hello traders,

One setup stand’s out from the rest this Wednesday, let’s check it out:

 

1. GBP/JPY

Chart showing the Great British pounds against the Japanese Yen

After the CPI news on GBP, we can clearly see that the key resistance zone that has held the bulls since last week is broken.

If the 6am candlestick gives us a clear breakout as we see on the chart above, then its time to join the bulls to the NPRZ

 

What say you?

 

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