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GBP/JPY Breaks out from Narrow Range to Test 132.50 (3/29)

posted by Avatar FXTimes 786 days ago in JPY, GBP, Technical

The GBP/JPY broke above a very narrow range roughly between 131.10 and 130.10. The break is above 131.10, and we mentioned yesterday that an upside break targets 132.50. The RSI confirms the break with a tag above 70. So in the near-term, as the rally is at 161.8% expansion, we might get some resistance especially as we test a previous pivot at 131
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