GBPJPY fell on Wednesday, and the technical bias is bearish due to lower lows in the recent volatility trend.
The pair is current trading near 152.053, and multiple resistance levels can be seen above which may prevent the price from rising further.
- Resistance level 1: 152.400
- Resistance level 2: 152.720
- Resistance level 3: 153.200
Below the price, multiple support levels can be seen which may prevent the price from falling.
- Support level 1: 151.650
- Support level 2: 151.330
- Support level 3: 151.000
Today, the United Kingdom will announce its employment growth data for April. The higher the number of newly created jobs will indicate favourable for the British pound. Therefore, it is positive for the GBPJPY currency pair, and vice versa.
Looking at the current price trend and economic development, it may be a good trading choice to sell the GBPJPY currency pair near the current level.