After Theresa May's statement GBP/JPY made around 300 pips in ascending direction reaching key resistance. The price couldn't managed to break SMA 50 and horizontal resistance, which could had triggered new wave of purchases. Demarker broke level 40, which is positive signal. For the moment the sentiment are for strong pound. For this scenario to fail, the pair must return around the levels of SMA 200 at 137.20 and to break it.
Source: Bloomberg
Trader Bozhidar Arabadzhiev
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