Technicals

Add as a preferred source on Google

FxWirePro- GBPJPY Daily Outlook

FxWirePro- GBPJPY Daily Outlook GBPJPY trades higher for a second consecutive week on a weak yen. It hits an intraday high of 167.95 and is currently trading around 167.75. GBPUSD- Trend- Bullish The pound sterling recov…

1 min read
EconoTimes — Reading the Times. Understanding the Future.

Read the original article

FxWirePro- GBPJPY Daily Outlook

GBPJPY trades higher for a second consecutive week on a weak yen. It hits an intraday high of  167.95 and is currently trading around 167.75.

 

 GBPUSD- Trend- Bullish

 

 The pound sterling recovered above 1.2500 on board based US dollar weakness. Market eyes US CB consumer confidence data for further direction.  Any close above 1.2500 will take the pair to 1.2580/1.2650.

USDJPY- Bullish

 The pair gained more than 50 pips as markets expects dovish comments from BOJ. Significant resistance is 135.25/136.

 GBPJPY analysis-

 

The near-term support is around 167, a breach below the targets of 166/165. The immediate resistance is at 168, any violation above will take the pair to 170.

 

 Indicators (4-hour chart)

 

 CCI (50)- Bullish

 

 ADX- Bullish

 

It is good to buy on dips around 167 with SL around 166 for a TP of 170.

 

 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560