GBPJPY - end to lower weekly highs signals profit taking recovery

​A small weekly Shooting Star at May's 2017 GBPJPY high at 148.12 which has been formed near a 62% recovery to the losses posted since the Brexit week high has left signals in each of the last 4 weeks as bearish. These have been confirmed with a strong reversal and with last week's trading posting initial losses of almost 2 Big Figs. However, for the 2nd week in a row buyers have returned to the market from ahead of the 200 day average rate, sentiment recovering to close little changed on the ...