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Instrument: GBPJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 150.369 with take profit at 150.546.
Bearish Preference:
Sell position is envisaged if price trades below 149.978 with take profit at 149.770.
Fundamentals:
No major fundamental
Comment: The UK’s reopening and rapid vaccination campaign are helping sterling hold up.
Another factor supporting sterling comes from the Bank of England, Governor Andrew Bailey reiterated his position that the outlook is positive and stressed that work toward negative rates does not imply they are soon on the cards.
Analysis: SCRUM Team
