18.05.201115:40 Forex Analysis & Reviews: GBP/JPY Bullish Outlook May 18, 2011 (Daily Strategy)

Long-term review

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GBP/JPY

Tepko, the power company operating the nuclear reactors in Fukushima, Japan reported last night that they expected to cool the reactors completely by October and meet the time table set for the rehabilitation and reconstruction of the damages caused by the nuclear disaster.

The move to positive sentiments in the financial markets should also support the British Pound Sterling - Japanese Yen pair that, for the most part, moves in positive coordination with the market.

Expect the price of the pair reaches the weekly resistance level around 1.3690 as our partial objective; and as our final goal, the level of 145.00 Japanese Yen to British Pound Sterling.

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