Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- GBPJPY Daily Outlook

GBPJPY is trading flat ahead of the Bank of England's monetary policy. It hits a high of 181.60 yesterday and is currently trading around 180.80

 

 GBPUSD- Trend- Bullish

 

 The pound sterling climbed above 1.2750 on BOE decision day. Markets expect a 25 bpbs rate hike by the central bank. Any hawkish commentary by BOE Governor Bailey will push the pound sterling higher. Any break below 1.2690 confirms intraday bearishness.

 

 

USDJPY- Bullish

 

 The pair pared some of its gains despite the hawkish Fed Chairman Speech. Significant Resistance is 142.25/143.

 

 GBPJPY analysis-

 

 The near-term support is around 180.50, a breach below targets 180/178.80. The immediate resistance is at 182.40, any violation above will take the pair to 183/184.

 

  Indicators (4-hour chart)

 

  CCI (50)- Bullish

 

  ADX- Neutral

 

  It is good to buy on dips around 180 with SL around 179 for a TP of 185.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

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