GBPJPY trades range-bound with no follow-through selling. The pound sterling regained from a 2-year low ahead of US CPI and Brexit optimism. The overall trend of GBPUSD is still weak as demand for safe-haven assets improved. Any breach above 1.2360 confirms intraday bullishness. GBPJPY hits an intraday high of 160.87 and is currently trading around 160.80.
USDJPY
USDJPY recovered above 130 despite declining US treasury yields. The intraday bullishness is only above 131.50.
Technicals:
On the lower side, immediate support is around 160, breach below will drag the pair to the next level to 159/158. The minor resistance to be watched is around 162, a break above that level confirms intraday bullishness, and a jump to 162.85/164.25 is possible.
It is good to sell on rallies around 161.55-60 with SL around 163 for the TP of 159/156.
