GBPJPY trades lower on the weak Pound sterling. It continues to trade weak against the US dollar on hawkish comments from the fed. Any breach below 1.3000 confirms further bearishness. Markets eye US CPI and UK GDP data to be released next week for further direction. GBPJPY hits an intraday low of 161.64 and is currently trading around 161.70.
USDJPY
USDJPY gained on surging US treasury yield. Any bullish continuation only if it breaks 125.20.
Technicals:
On the lower side, immediate support is around 161.40, breach below will drag the pair to the next level to 160.50/159.70/159. The minor resistance to be watched is around 162.30, a break above that level confirms intraday bullishness, and a jump to 164 is possible.
It is good to sell on rallies around 161.80-85 with SL around 162.35 for the TP of 160.
