The British Pound Sterling is the fourth most popularly traded currency, and the third most commonly held reserve currency.
The Japanese Yen is the third most commonly traded currency in the world after the US Dollar and the Euro.
The primary trend of GBP/JPY is bullish, prices are sustaining on the higher levels & looking further bullish for the few upcoming sessions. The pair is taking resistance from falling trendline, consolidating & gaining strength to break it upside. Today if the pair breaks 184.20 & managed to sustain above it, then we can expect it to continue its ongoing trend & test the level of 184.87/185.20 in today's session. RSI is sustaining in buying territory supporting upside movement in the pair.
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MACD line has
recently break the zero line,indicating the up trend in the market.
STRATEGY :-
GBP/JPY is looking further bullish on charts. One can go for buy on
dips strategy for this pair for intra day to mid term positions.
