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Instrument: GBPJPY
Bullish Preference:
A buy position is envisaged if the price trades above 183.768 with take profit at 183.920.
Bearish Preference:
A sell position is envisaged if the price trades below 183.386 with take profit at 183.208.
Fundamentals:
No High Impact
Comment:
A positive turnaround in the global risk sentiment – as depicted by a generally positive tone around the equity markets – is seen undermining the safe-haven Japanese Yen (JPY). Apart from this, a dovish stance adopted by the Bank of Japan (BoJ) continues to weigh on the JPY.
Analysis: SCRUM Team
