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Instrument: GBPJPY
Bullish Preference:
A buy position is envisaged if the price trades above 181.226 with take profit at 181.397.
Bearish Preference:
A sell position is envisaged if the price trades below 180.714 with take profit at 180.537
Fundamentals:
No High Impact
Comment:
GBP/JPY retreats from intraday high as it struggles to defend the first daily gains in four amid the early hour of London open on Monday, mildly bid near 181.00 by the press time.
In doing so, the cross-currency pair justifies the fears about the UK’s employment and growth conditions while also taking clues from the upbeat Treasury bond yields and mixed chatters about the Bank of Japan’s (BoJ) exit from the ultra-easy monetary policy.
Analysis: SCRUM Team
