GBPJPY consolidating in a narrow range after a massive jump over the past two days. The pound sterling gained above 1.1700 against the USD on upbeat UK jobs data. The unemployment rate dropped to 3.6% from 3.8%. The UK's…
GBPJPY consolidating in a narrow range after a massive jump over the past two days. The pound sterling gained above 1.1700 against the USD on upbeat UK jobs data. The unemployment rate dropped to 3.6% from 3.8%. The UK's headline Claimant count change increased in August to 6.3K compared to a forecast of -9.2K. Technically in the 4-hour chart, holding above short-term 21-EMA, 55 EMA, and long-term 200 EMA (163.23). Any surge above 167.10 will take the pair to the next level 167.80/168.70. GBPJPY hits an intraday high of 166.98 and is currently trading around 166.891.
The near-term support is around 166.35, a breach below targets 165.75/165.30/164.30.
Indicators (4-hour chart)
CCI (50) – Bullish
ADX- Bullish
It is good to buy on dips around 166.65-70 with SL around 166 for TP of 168.
