Technical analytics

GBP/JPY

A broad based the US dollar recovery weighed on the yen helping the GBP/JPY pair to regain some traction. The pair left the range 151.50 - 150.00 and moved upwards. Buyers reclaimed 151.00 in the early NY session and tested 152.00 in the night on Wednesday. The bullish sentiment remained intact on Thursday. The spot kept battling with the 152.00 hurdle. The resistance lies at 152.00, the support is at 151.00.

A break above 151.00 pointed to buyers’ growing strength. The pound is likely to extend its upward trajectory and may reach 153.00 in the coming days.

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