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FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption 
- The euro rose to a 5-day peak against the British pound as investors priced in looser financial conditions under Britain’s new finance minister.
- Moreover, lingering worries about economic ties between Britain and the European Union further dented the bid tone around the British currency.
- EUR/GBP is trading 0.1 percent up at 0.8336, having hit a low 0.8295 on Thursday, its lowest since December 13.
- Technical indicators are bearish: RSI weak at 36, MACD supports downside and Stochs are at oversold levels
- Immediate resistance is located at 0.8367 (7-EMA), a break above could take it near 0.8387.
- On the downside, support is seen at 0.8308, a break below could drag it till 0.8275.
Recommendation: Good to sell on rallies around 0.8328, with stop loss of 0.8336 and target price of 0.8308.
