GBP/JPY has shown a minor recovery from the low of 144.38. The pair hits high of 145.65 at the time of writing. It is curretly trading around 145.29. Markets eye UK super Thrusday for further directiomn. BOE is expectd t…
GBP/JPY has shown a minor recovery from the low of 144.38. The pair hits high of 145.65 at the time of writing. It is curretly trading around 145.29. Markets eye UK super Thrusday for further directiomn. BOE is expectd to keep interest rate unchanged and any more dovish comment will drag GBP further down. The pair dipped more than 2.5% form the high of 148.11 made in previous week. US dollar index has broken major resistance 95.13 and is trading around 95.35. GBPJPY hits intraday low of 144.92 and is currently trading around 144.75.
The pair is trading slightly below 145 and it confirms minor trend reversal and a decline till 143 is likely.
On the higher side, near term resistance is around 145.75 (4 H Kijun sen) and any break above will take the pair to next level till 146.20/147.10/148. It should break above 148.11 for further jump till 150.
It is good to sell on rallies around 145.55-60 with SL around 146.21 for the TP of 143.25.
