This is how I see the GbpJpy right now. There was a pretty long range since 5.february. Price made a new low on 7th and already new high. Than it continues in range and I expect breaking this today in the afternoon because of the BOE Speaks.

The situation is not so clear but I have to say the BREXIT is already in the play and nobody can expect new high till the decision will be made. It should be made at the end of march. So it doesn’t matter what the price is doing now, we alredy know the egde is on short side. So if you would like to participate for next few weeks, sell the GY.

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