We are looking at GBPJPY pair on the 30 min time frame. The pair has been rallying and has now run into resistance.
Our preference now is to sell the pair, with the downside target of 145.745. The fundamental view supporting this idea is the disappointing Services PMI data from UK. The actual reading of 48.9 is below the expected 51.0
Disclaimer: Our analysis and forecasts given on this website are just our point of view about the market. It is not a trading signal or investment advice.