The Great Britain Pound (GBP) inched higher against the Japanese Yen (JPY) on Thursday,  increasing the price of GBPJPY to more than 145.00 following some major economic releases. The technical bias may remain bullish since the pair’s price marked a higher high in the recent upside move.

GBP/JPY Technical Analysis

Currently, the pair is being traded around 145.38, the 61.8% Fib level resistance can be witnessed around 146.15, ahead of 148.87, the major horizontal resistance and then comes 149.05, the trendline resistance level as demonstrated in the given below chart.

On the downside,  the price may come across support around 144.44, the major horizontal resistance, ahead of 141.72, the 61.8% Fib level support and then comes 137.33, the 61.8% Fib level support as demonstrated in the given above chart. The technical bias shall remain bullish unless 144.44, the key horizontal support level remains intact.

ADP Employment Change In the United States News

The employment change rate in the US remained 163K in August, as compared to 217K during the month before, up beating the economist expectation which was only 190K, the data is taken from the news released by Automatic Data Processing Inc.

The organization measures the number of people remained employed over a due course of time. Generally speaking, a positive reading in the employment data rate is considered as bullish for the US Dollar (USD) and vice versa.

Trade Idea

Considering the overall price behavior of the pair over the last couple of days, buying the GBPJPY around current levels can be a good decision in short to medium term.