Paun British / Yen Jepun
Panjang

GBPJPY approaching important level. Breakout or breakdown?

89
The pound yen is approaching an important level, are we going to see a break out of the range or rejection from the 160 level? I'd would take a measured long at around the 156 level to ride to 160. I think price will definitely consolidate at/near the 160 level and we will take a wait and see approach by then. I think we will unlikely see a 17, 18 kinda correction. The macro sentiment is more 2013/2014 than it is 17, 18 when trump took office and started the trade war.

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