GBPJPY regained above 160 level on weak yen. The pound sterling trades below 1.31500 against the US dollar ahead of US Non-farm payroll data. Any breach below 1.310 confirms the intraday bearishness.
USDJPY
USDJPY surged to 122.73 after three days of a bearish trend. The board-based US dollar strength and comments from BOJ on rising commodities prices support the pair at lower levels. The near–term support is around 121 and intraday bullish continuation only if it breaks 123.20.
Technicals:
On the lower side, immediate support is around 160.40, violation breach below will drag the pair to the next level to 160/159.40/159. The minor resistance to be watched is around 161.20, a break above that level confirms intraday bullishness, a jump till 162/164 is possible.
It is good to sell on rallies 161.25-30 with SL around 162 for the TP of 158.
