In this video, Anish presents his thoughts on GBP/JPY following FED chair’s speech and future guidance on monetary policy.

The currency pair continues to surge in an ascending channel pattern during the following trading session. The potential target for the GBP/JPY pair will be near the weekly resistance level at 153.25.

US Dollar weakness is something of short-term phenomena, as the greenback met some selling as the Fed’s statement was optimistic, easing afterwards as Chair Jerome Powell poured cool water on tapering, noting that they are “not there” when referring to the usual substantial further progress towards Fed’s goals.

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