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GBP/JPY: Moving in to over bought territory towards 178 handle
FXStreet (Guatemala) - GBP/JPY is currently trading at 177.78 with a high of 177.97 and a low of 176.5.
GBP/JPY is is heading towards the 178 handle, and getting in to neutral territory, allowing the bulls space to breath as Sterling benefits from weakness in the greenback, up on to the 1.49 handle as the US continues to print a less bullish scenario in the economy.
Technically, the cross is up to R2 but in to over bought territory having claimed ground above the 20 and 50 MA's with RSI (14) on the hourly chart at 73. Fundamentally, the UK hasn't been much of a show of late, despite key CPI's and PPI's printed this week, with near misses and relatively in line, but tomorrow brings the jobs report that markets will be attentive to.
