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GBPJPY pared some of its gains on the weak Pound sterling. It has declined below the 1.2500 level as UK PM faces a no-confidence vote. It will get triggered if 54 MPs sent a letter to Sir Graham Brady. Any breach below 1.2450 confirms further bearishness. GBPJPY hits an intraday high of 163.590 and is currently trading around 163.39.
USDJPY
USDJPY holding above 130 on upbeat US jobs data. Any breach above 131.50 confirms further bullishness.
Technicals:
On the lower side, immediate support is around 162.50, below will drag the pair to the next level to 161.75/161/160/159. The minor resistance to be watched is at 163.50, a break above that level confirms intraday bullishness, and a jump to 164.25/165 is possible.
It is a good buy on dips around 163 with SL around 161.75 for TP of 166.
