FX.co ★ ckerluke | GBP/JPY

Hello traders, The lower-than-expected decrease in business investments and the current account balance, along with a significant increase in the housing price index in the United Kingdom, are offset by the decrease in the unemployment rate in Japan. Traders need time to digest these inputs, and in anticipation of this, the GBP/JPY pair has settled near the base of the 211th figure (Murrey 7.8). Upon resumption of the downward movement, sellers will encounter intermediate support near the base of the 210th figure, located on the way to the level of 209.36 (Murrey 6.8). As for resistances, the nearest one is the H4 Kijun line. If it is overcome and bulls pass through the Ichimoku cloud, they will face the level of 112.50 (Murrey 8.8), which will not be easy to overcome.