Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- GBPJPY Daily Outlook

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.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.