The GBPJPY Guppy has a double bottom and targets near 135.00

The GBPJPY is working a double bottom formation as the pair held the dip to 126.60. When the pair breached the neckline, or previous breakdown point at 130.65, the pair has been well bid and looks poised to rally further. At the moment, it has stalled at the 61.8% retracement of the last major drop at 132.34, but any dip towards 131.50 may allow for another move to near 135.00.

GBPJPY Double Bottom

Blake Morrow