GBP/JPY has recovered sharply after declining almost more than 100 pips yesterday. Pound sterling was trading higher for past three weeks and broken high made on 1.43455 Jan 25th 2018. The pair jumped almost 400 pips in …
GBP/JPY has recovered sharply after declining almost more than 100 pips yesterday. Pound sterling was trading higher for past three weeks and broken high made on 1.43455 Jan 25th 2018. The pair jumped almost 400 pips in month of Apr till now on hopes of rate hike by BOE. The pair hits low of 152.65 and shown a 100 pips jump from that level. It is currently trading around 153.74. Market eyes UK employment data to be released today for further direction.
The major resistance is around 153.85 and any convincing break above targets 155/156.50.
On the lower side, near term support is around 153.20 (hourly Kijun-Sen) and any close below will drag the pair till 152.65 (20- H MA)/151.77 (200- H MA).
It is good to buy on dips around 153.25-30 with SL around 152.65 for the TP of 154/154.50.
