GBP/JPY halted its downtrend on Thursday and registered gains of more than 0.50% in a day that witnessed the pair traveling from around 179.56 towards
GBP/JPY registers a 0.50% gain, moving from 179.56 to a close of 180.92, with a cautious uptick to 181.05. An imminent test of the Ichimoku Cloud bottom at 181.61 could dictate the next directional move towards 181.90 or below 178.03. Short-term view leans neutral to slightly bullish, with key resistances set at 181.25, 181.37, and a notable 182.81. its daily close of 180.92. At the time of writing, as Friday’s Asin session begins, the cross-currency pair exchanges hands at 181.
From a short-term perspective, the GBP/JPY is neutral to slightly upward as the pair remains above the Kumo. Additionally, both the Tenkan and Kijun-Sen are in a bullish order, while the Chikou Span is about to cross above the price action. Therefore, the cross-currency pair's first resistance would be the October 4 high at 181.25, followed by the October 3 daily high at 181.37 and the October 2 swing high at 182.81.
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