GBPJPY pared some of its gains on the strong yen. It hits a high of 159.94 and is currently trading around 158.32.
GBPUSD- Trend- Bearish
The pound sterling lost its shine the previous week after upbeat US jobs data. It hits a low of 1.1970 and showed a minor pullback on US weakness. Any daily close above 1.2120 will push the pair to 1.2200/1.2250.
USDJPY- Bearish
The pair lost more than 200 pips as demand for safe-haven assets increased. Major support is 130/129.
GBPJPY analysis-
The near-term support is around 158, a breach below targets of 156.70/155.60/155. The immediate resistance is around 158.50, any violation above will take the pair to 160/161.80/163.
Indicators (4-hour chart)
CCI (50) –bearish
ADX- Bearish
It is good to sell on rallies around 159 with SL around 160.20 for a TP of 155.
