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Instrument: GBPJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 155.462 with take profit at 155.657
Bearish Preference:
Sell position is envisaged if price trades below 155.032 with take profit at 154.832
Fundamentals:
1pm GBP Asset Purchase Facility
GBP BOE Monetary Policy Report
GBP MPC Asset Purchase Facility Votes
GBP MPC Official Bank Rate Votes
GBP Monetary Policy Summary
GBP Official Bank Rate
Comment: After making a high last month at 158.219, GBP/JPY has retraced to a low of 154.668 as it consolidates above a previous high of 153.444. The low of 154.668 is just above the 38.2% Fibonacci retracement level of 154.519. These 2 points may provide support.
Analysis: SCRUM Team
