Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- GBPJPY Daily Outlook

GBPJPY trades higher for the second consecutive day on a strong yen. It hits an intraday high of 162.70 and is currently trading around 162.67.

 

 GBPUSD- Trend- Bearish

 

 The pound sterling holds above 1.2300 as risk appetite decreases. The easing banking crisis and Fed rate pause hopes weigh on the US dollar. Any close above 1.2350 will pull the pair to 1.2400.

 

USDJPY- Bearish

 

 The pair declined slightly after hitting a high of 131.75 on board-based US dollar selling. Major support is 130.50/129.

 

 

 GBPJPY analysis-

 

The near-term support is around 161.70, a breach below the targets of 160.70/159.75/158.95/158.50. The immediate resistance is at 162.80, any violation above will take the pair to 163.30/164/165.

 

 Indicators (4-hour chart)

 

 CCI (50)- Bullish

 

 ADX- bullish

 

It is good to buy on dips around 162.50 with SL around 161.70 for a TP of 165.

 

 

  • Market Data
Close

Welcome to EconoTimes

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