GBP exploded to the upside against the JPY again, as we have seen the 139.00 level.
This is an area that we have seen selling in the past so I would welcome any pullback as a potential buying opportunity at lower levels. Of particular interest for me right now is the 137.50 level, where I see support on short-term charts.
I personally do not have any interest in shorting this market, because quite frankly we have seen such massive buying pressure.
A break above the 140.00 level opens up the door towards the 145.00 level.
That being said, I think that we need to pull back a bit before we get that move.
This is an area that we have seen selling in the past so I would welcome any pullback as a potential buying opportunity at lower levels. Of particular interest for me right now is the 137.50 level, where I see support on short-term charts.
I personally do not have any interest in shorting this market, because quite frankly we have seen such massive buying pressure.
A break above the 140.00 level opens up the door towards the 145.00 level.
That being said, I think that we need to pull back a bit before we get that move.