GBPJPY Watching Divergence

The British pound is consolidating towards the top of its range against the Japanese yen currency, ahead of the release of key jobs and inflation data from the UK economy this week. The one-hour time frame shows that the MACD indicator is showing that bearish price divergence has formed during. According to the MACD indicator, the bearish divergence extends down towards the 153.00 area.

The GBPJPY pair is only bullish while trading above the 153.60 level, key resistance is found at the 154.20 and the 154.45 levels. If the GBPJPY pair trades below 153.60, sellers may test the 153.30 and 153.06 support levels.

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