GBP Back around highs versus JPY in Forex market
6/9/2017 10:26:45 AM
The GBP/JPY cross managed to recover around 60-pips from 6-week lows touched in the past hour and has now moved back above the key 139.94 psychological mark.
A follow through recovery above 140.44 level might quick some further short-covering move towards 140.77 persistence on the way 141.23 hurdle. On the downside, bears would be eyeing for a conclusive break through several week lows support near mid-139.05s, below which the cross is probable to speed up the slide towards the 139.05 handle before finally heading towards its next major support near 138.33 area.
FOREX market analysis by FxErvin.