GBPJPY trades higher for the seventh consecutive day on a weak yen. The pound sterling gained above 1.2550 ahead of US NFP data. Any dismal jobs data will push cable further higher. Any breach above 1.2660 confirms further bullishness. GBPJPY hits an intraday high of 163.50 and is currently trading around 163.35.
USDJPY
USDJPY hovering near 130 level on surging US Treasury yields. Markets eye US NFP and Biden's speech for further direction.
Technicals:
On the lower side, immediate support is around 162.50, below will drag the pair to the next level to 161.75/161/160/159. The minor resistance to be watched is at 163.50, a break above that level confirms intraday bullishness, and a jump to 164.25/165 is possible.
It is a good buy on dips around 162.50 with SL around 161.50 for TP of 165.
