GBP/JPY tested the weekly trendline and has held

Technical Analysis

Author: Adam Button | gbpjpy

GBP/JPY was the worst performer this week

It was a good week to be in foreign exchange. Unlike stock markets, it was well-behaved, almost shockingly well-behaved despite all the turmoil elsewhere.

The biggest percentage mover in major FX this week was GBP/JPY as it fell to 150 from 155. Note that the trendline since October 2016 has held -- at least so far.

Signs like that really add to the confidence that this episode isn't the start of something, but rather a very violent, very temporary blip.

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