FxWirePro: USD/CAD Triangle Breakdown Indicates Interim Bears On Upper Hand, Buzzing Bulls In Major Trend – Trading & Hedging Setup
FxWirePro: GBPJPY hovers near yesterday low as BOJ kept rates unchanged, markets eye Kuroda speech
Major support -144.58 (200-day MA)
GBPJPY is consolidating after hitting low of 144.40 yesterday.Overall weakness was mainly due to Brexit uncertainty.BOJ has kept its rates unchanged as expected and trimmed its growth and inflation forecasts.The pair hits intraday low of 144.48 after the policy and is currently trading around 144.55. Markets eye BOJ governor Kuroda speech for further direction. GBP is trading lower against USD and has lost more than 100 pips in past tow trading days..
On the lower side, any daily close below 144.58 confirms major weakness and a decline till 143.75-80 possible.
The near term resistance is around 145 and any break above will take the pair to next level till 145.61/146.
It is good to sell on rallies around 145-145.10 with SL around 145.61 for the TP of 143.75.