FX.co ★ GBP/JPY Bullish Outlook August 25 2011 (Daily Strategy)

GBP/JPY

The pound-yen pair showed a great weakening as the bearish wave was recorded on the financial markets over the past five months. The pair lost about 1,600 points after it collapsed so sharply from the recent peaks, about 140 Japanese yen, and even the low levels in operating the pair now, about 126 Japanese yen. After all this impressive string downward from a technical perspective now there is a fairly high chance of a possible settlement of a base on the eve of a new uptrend.

The pair is still operating at very low levels and is expected to continue the upward movement. It is worth recalling the objectives of price in the short to medium term and 129.00 - 127.50 respectively.