Major Intraday resistance -153.80
Intraday support- 152.50
GBPJPY jumped more than 50 pips on the strong Pound sterling. GBP gained after upbeat UK jobs data. The ILO unemployment rate declined to 4.3% in Sep from 4.4% and the number of people who have filed for unemployment benefits dropped to -14.9k compared to a forecast of -39.2k. The intraday trend is neutral as long as resistance 153.80 holds. It hits a high of 153.73 at the time of writing and is currently trading around 153.63.
USDJPY- Analysis
The pair edged above 114 levels. Any breach above 114.70 targets 115/116.
CCI Analysis-
The CCI (50) and Woodies CCI are holding above zero level in the 1-hour chart. It confirms a minor bullish trend.
Technical:
The immediate resistance is around 153.80, any break above targets 154.55/155. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is around 153. Any indicative violation below targets 152.50/152.18/151.60.
Indicator (4-Hour chart)
Directional movement index –Bearish
It is good to buy above 153.80 with SL around 153.30 for a TP of 154.95.
