GBP/JPY traded higher during the European morning Monday, breaking above the resistance (now turned into support) barrier of 148.50. However, following the break, the rate has been moving in a consolidative manner, between that level and the 149.25 resistance hurdle. On the 8th of May, GBP/JPY rebounded from a long-term upside support line, drawn from the low of the 17th of April 2017, and although it tumbled after the BoE meeting last Thursday, it managed to recover almost all the…
GBP/JPY traded higher during the European morning Monday, breaking above the resistance (now turned into support) barrier of 148.50. However, following the break, the rate has been moving in a consolidative manner, between that level and the 149.25 resistance hurdle. On the 8th of May, GBP/JPY rebounded from a long-term upside support line, drawn from the low of the 17th of April 2017, and although it tumbled after the BoE meeting last Thursday, it managed to recover almost all the…