Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirepro- GBPJPY Daily Outlook

    
GBPJPY declined slightly after hitting a multi-week high due to profit booking. It hit a low of 185.09 yesterday and is currently trading at around 185.316.

 GBPUSD- Trend- Neutral

The pound sterling pared some of its gains from a week's high of 1.24283.UK construction PMI declined to 45.6 in October, below the forecast of 46. Any daily close above 1.2400 confirms further bullishness.
 

USDJPY- Bullish

 The pair recovered more than 100 pips as the US treasury yield showed a pullback.  The significant resistance is 152/153.
     
 GBPJPY analysis-
 
 The near-term resistance is around 186, 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.

  • Market Data
Close

Welcome to EconoTimes

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