$GBPJPY makes technical break but will it hold..?
GBPJPY has ticked the box for a technical breakout but the negative sentiment toward GBP following Brexit and the continuing Yen strength hold us back. We have UK jobs data up at 09:30, we would look o trade in the direction of the move on the back of that print.
Downside looking for 130.00 and below but doubt we will see a stretch to 129.00 unless data is awful
Upside looking for 132.00 and the 200 HR MA, a break here should initiate stronger run with eyes on 135.00. When this pair gets a run it can really motor so we would not rule out a stronger move especially if JPY finally starts to show some cracks
Downside looking for 130.00 and below but doubt we will see a stretch to 129.00 unless data is awful
Upside looking for 132.00 and the 200 HR MA, a break here should initiate stronger run with eyes on 135.00. When this pair gets a run it can really motor so we would not rule out a stronger move especially if JPY finally starts to show some cracks
