It has been a fantastic 3 years for the GBP/JPY. The currency pair has advanced over 5,500 pips since reaching a swing low of 116.82 in September of 2011. But as indicated by the chart below, the momentum upward has stopped at the 175 figure.
However, the constant pushing of prices on this resistance leads me to believe that the Geppy will overcome the headwinds and finally break above 175 this summer. I'm targeting 179, the first resistance after 175 gives way. This was the swing low for the GB…
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