Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- GBPJPY trades weak after dismal UK retail sales, dip till 148.60 possible

Ichimoku Analysis (Hourly Chart)

Tenken-Sen- 151.42

 Kijun-Sen- 150.95

Previous week high – 153.45

GBPJPY has broken significant trend line support and holding well below that level. The pound sterling inching towards 1.3600 after dismal UK retail sales data. It has dropped by -2.5% in July compared to a forecast of 0.2%. The intraday trend of GBPJPY is bearish as long as resistance 150.60 holds. 

USDJPY- Analysis
Holding below 110 levels. Major resistance to watch 110.80. Significant support is around 109.
GBPUSD- Bearish 
The pair is trading well below 200-day MA, a dip till 1.3570 possible.
 Technical:
The pair's immediate resistance is around 150.22, any jump above targets 150.60/151/151.55. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 149. Any indicative violation below targets 148/147.40. 

 Ichimoku Analysis- The pair is trading below Kijun-Sen and Tenken-Sen.

 Indicator (Hourly chart)

 CAM indicator-Bearish

Directional movement index –Bearish 

It is good to sell on rallies around 151 with SL around 151.55 for a TP of 149.
 

  • Market Data
Close

Welcome to EconoTimes

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