FxWirePro: GBP/JPY trades lower, good to sell on rallies
GBP/JPY has lost more than 130 pips yesterday after BOE monetary policy. BOE has hiked interest rates by 25bpbs and more dovish comment from governor Carney has dragged the pound sterling lower.Cable has lost almost more…
GBP/JPY has lost more than 130 pips yesterday after BOE monetary policy. BOE has hiked interest rates by 25bpbs and more dovish comment from governor Carney has dragged the pound sterling lower.Cable has lost almost more than 100 pips after the BOE governor comment.The pair hits high of 145.01 yesterday and shown a minor jump. Intraday trend of the pair is still bearish as long as resistance 146 holds.Any break above 146 will take the pair to next level till 147/148.11. It is currently trading around 145.43.
On the lower side, near term support is around 145 and any break below will take the pair to next level till 144.35/143.
It is good to sell on rallies around 145.55-60 with SL around 146 for the TP 143.50.
