GBPJPY rejects May 28th highs again!

Updated:

Key Support: 156.00 – 155.75
Key Resistance: 157.00 – 158.20

After breaking out of the 156 level, the GBPJPY has pulled back 1.65% from last month’s highs to retest this previous broken level 3 times whilst printing a clear continuation pattern.

The JPY is still very much a sell here but right now it’s also consolidating after last month’s -4.70% move that catapulted this breakout on the GBPJPY.

My trade idea here is a simple reversal at the 156 level after Sunday’s open on a break of what was a the time today’s highs.

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