FX.co ★ GBP/JPY Bullish Above 129,90 June 10, 2011 (Daily Strategy)

GBP/JPY

The British Pound Sterling - Japanese Yen is shows great potential for a wave of rises that should push the pair upwards and on to the resistance level of 134.40. Is important to note that the pair has encountered strong support at the 129,93 level, From here, things should be much easier for the pair to start its upward movement that, potentially, could end around the high resistance levels of 140.50. However, to begin with, we should concentrate on the important and closer resistance level at 134.40