GBPJPY lost its shine on the weak pound sterling. It hits an intraday low of 158.73 and is currently trading around 158.68.
GBPUSD- Trend- Bearish
The pound sterling declined more than 200 pips after upbeat US jobs data. Any daily close below 1.200 will drag the pair to 1.1890.
USDJPY- Bearish
The pair hits a multi-week top as a surge in jobs will increase the chance of aggressive rate hikes. Major resistances are 132/133.20/134.
GBPJPY analysis-
The near-term support is around 158, a breach below targets of 156.70/155.60. The immediate resistance is around 160, any violation above will take the pair to 161.80/163.
Indicators (4-hour chart)
CCI (50) –bearish
ADX- Bearish
It is good to sell on rallies around 159 with SL around 15 for a TP of 155.
