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GBPJPY hits a multi-week high on strong pound sterling. It hit a high of 185.28 yesterday and is currently trading at around 185.21.
GBPUSD- Trend- Neutral
The pound sterling surged more than 400 pips the previous week and hit a week top after weak US jobs data. The US economy has added 150000 jobs in Oct compared to a forecast of 180000. Unemployment jumped to 3.9% vs. a Forecast of 3.8%. Any close above 1.24200 confirms further bullishness.
USDJPY- Bullish
The pair trades weak after dismal US NFP data. The significant resistance is 152/153.
GBPJPY analysis-
The near-term resistance is around 185.80, a breach above targets 186.75/188.45 The immediate support is at 184.95, any violation below will drag the pair to 184.25/183.60/.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy at dips around 184.75-80 with SL around 184.20 for the TP of 188.
