FxWirePro- GBPJPY Daily Outlook
GBPJPY lost its shine on the strong yen. It hit a low of 182.69 yesterday and is currently trading around 182.71.
GBPUSD- Trend- Bearish
The pound sterling showed a minor pullback from a multi-month low of 1.24510. The US dollar index halted its 8-week bullish trend on easing US treasury yields and renewed upbeat market sentiment. Any break above 1.2560 confirms further bullishness.
USDJPY- Bullish
The pair lost more than 200 pips on hawkish comments from BOJ Governor Ueda. The significant support is 145.80/144.40.
GBPJPY analysis-
The near-term resistance is around 183.65, a breach above targets 184.60/185. The immediate support is at 182.80, any violation below will drag the pair to 182/180.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- bearish
It is good to sell on rallies around 183.75-80 with SL around 185 for the TP of 180.
