Monday, May 31, 2021 8:29 AM EDT
The GBP/JPY has closed above the M H5 pivot point which indicates a very strong uptrend.
The bullish move is expected to continue as the price progresses above the M H5 level. We can see 155.40 as the level of support and continuation towards 157.11 is expected. However, the retracement to the POC zone is possible. 154.50-80 is where buyers are and we should see a bounce if the price reaches the zone.
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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