GBPJPY posted a false breakout

27 thg 9

Intraday Update: The same think happened with a lot of the JPY pairs overnight after Ishiba looks to be the next Japanese PM and is more in line of the BOJ's thinking (continue to tighten mon pol) and we have seen a lot of false breakouts like the GBPJPY which hit the 127% extension to 196.22 and reversed. Now we'd expect sellers back at the 193.70 level on any intraday rally.