Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- GBPJPY Daily Outlook

GBPJPY showed a massive recovery of over 500 pips on the weak Yen. It hit a high of 182.42 yesterday and is currently trading around 141.72.

 

 GBPUSD- Trend- Bullish

 

The pound sterling recovered above 1.2850 after weak US PCE data. According to the commerce department, the PCE index increased 0.20%, in line with the estimate. Core inflation rose 4.1% YoY, down from 4.6% in May.  Any break above 1.2900  confirms further bullishness.

 

 

USDJPY- Bullish

 

 The yen dropped sharply on upbeat US economic data. Significant resistance is 142.50/144.

 

 GBPJPY analysis-

 

 The near-term support is around 181.50, a breach below the target of 180.80/180. The immediate resistance is at 183, any violation above will take the pair to 184/185.

 

  Indicators (4-hour chart)

 

  CCI (50)- Bullish

 

  ADX- Bullish

 

  It is good to buy on dips around 182 with SL around 181 for a TP of 185.

  • Market Data
Close

Welcome to EconoTimes

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