JPMorgan: sell GBP/JPY
GBP/JPY trades under pressure, but holds slightly above the 170 figure on Wednesday. Strategists at JPMorgan maintain a beraish view for the pair. They believe it gave a strong selling signal by breaking below the 170.70 support recently. Analysts recommend selling the pair from the current levels or a little higher with a minimum target at 164.25. Next levels to watch lie at 162.60 and then at 153.45/152.90.
Strong resistance for the pair lies at 170.80 and at the 171.00 mark.
Chart. Daily GBP/JPY