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GBP/JPY further rebound surges above 190
Yesterday a final update here noted how the next upside objective for the GBP/JPY was at 190.80. The Pound was hovering around 189.50 when that update was sent out and it also noted how this could be reached in due course. Well, talk about not taking very long folks, because not only did the GBP/JPY reach that level, it charged through it and beyond later in the afternoon. The GBP/JPY reached 192 ahead of the US close last night and later ended that session at 191.91. So, now it has recovered more than 38.2% of the 2800 pip fall (from 208.11 to 180.11) could it now extend that rebound to 50%? Well, given the way it surged yesterday, it would be daft to rule that out and if that is where the Pound is headed, then 194.11 is the price point destination for such a move. The GBP/JPY is currently trading at 191.60
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