GBPJPY TECHNICAL ANALYSIS SHORT TERM VIEW GBPJPY has made irregular correction at top so it can sharply fly for 186.76 target very soon .It has also made reversal in last wave c .Buying can be done with stop loss 183.35 for upside direction got intraday targets 185.05,185.20 and 185.50 respectively.Overall trend stop loss is 174 and it can jump firstly for 186.76 and then for 200 levels.Intraday support are 184.18 to 184.68 levels.
QUICK FUNDAMENTAL LOOK
Increasing yield spreads and the disparate economic performance of the components suggest sterling/yen is ready for a sharp move higher.
A raft of UK data, led by GDP, came in stronger than expected on Friday. The data affirmed the belief that the Bank of England will need to keep rates higher for longer.
POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.