GBP/USD turning higher after yesterday’s pullback
GBP/USD sold off into the 76.4% retracement yesterday, with the pair turning higher since.
The uptrend remains intact and, as such, a bullish view remains in play unless we see a move back below the $1.3160 support level.
USD/JPY weakening from key resistance level
USD/JPY has enjoyed a bullish week, with the risk-on move seeing people shift out of the yen. However, with the price having rallied into trendline resistance, there is a good chance we could see the pair weaken from here. Watch out for trendline support, which marks the first main hurdle to overcome.
Meanwhile, a break back below ¥109.90 would give greater confidence of a more protracted downward move. Given the potential for another North Korean nuclear test, there is reason to believe that any surprise could be bearish for this pair. A break above ¥110.67 would negate this bearish view.