GBPJPY retesting the top of the range

8 January 2021 | Updated: 8 January 2021

The Pound-Yen is retesting for the third time a key level at the end of a bullish structure. This structure has hit short term bullish targets at the top of the range printing an important bearish divergence.
This level is very important because it was the level that held price for 90 days (Nov 2019 – Feb. 2020) before a 1765 pip move to the downside (-12.50%). This is a range play but should price break with the lows of the range we could see price test the 137.80

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