GBPJPY forms the temporary top around 148.11 and started to decline for fourth consecutive days from that level. It is currently trading around 145.07. The pair broken minor support at 146.30 (daily Tenkan-Sen and 10 day…
GBPJPY forms the temporary top around 148.11 and started to decline for fourth consecutive days from that level. It is currently trading around 145.07.
The pair broken minor support at 146.30 (daily Tenkan-Sen and 10 day MA) and declined till 144.95 at the time of writing. The downside capped by 23.6% fibo and any close below will drag the pair till 144.30 (21- EMA)/143.30 (38.2% retracement of 135.59 and 148.11)/141.85 (daily Kijun -Sen).
On the higher side, minor resistance is at 146.40 (10 day MA) and any break above will take the pair till 147/148.10 (May 10th 2017 high). Bullish continuation can be seen only above 148.10.
Markets await UK employment data which is to be released today for further direction.
It is good to sell on rallies around 145.25-30 with SL around 146.40 for the TP of 143.30/142
