The secondary trend of GBP/JPY is bearish, The pair is
taking support of rising trend line & consolidating with a negative bias.
If the pair sustains below 175.70 levels, it can come down to the levels of
174.50. Prices are also taking the resistance from 30 SMA & 200 SMA,
supporting the downside movement in the pair. RSI is also sustaining in selling
territory, indicating the bearish sentiment in the market.
STRATEGY:- For Today GBP/JPY is looking weak on chart. We can expect
downside movement for few upcoming session. One can go for sell on higher level
strategy for this pair for intra day to mid term positions.
TODAY’S
ECONOMIC EVENTS
|
Date
MON Feb. 2nd
2015
|
Time (GMT)
|
Currency
|
Economic
Data
|
Forecast
|
Previous
|
|
08:00:00
|
EUR
|
Spanish Unemployment Change
|
-32.4K
|
-64.4K
|
|
|
9:30am
|
GBP
|
Manufacturing PMI
|
52.9
|
52.5
|
|
|
|
3:00pm
|
USD
|
ISM Manufacturing PMI
|
54.9
|
55.5
|
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