Short-term resistance -150.60
Intraday support- 148.90
GBPJPY has once again declined after touching 200-H MA. The intraday trend is neutral as long as resistance 150.60 holds. The pound sterling is trading below 1.3250 against USD on fear of the Omicron virus in the UK. The slight pullback in the US dollar and US treasury yields also dragging GBPUSD. Any breach below 1.3180 confirms intraday bearishness. GBPJPY hits a low of 150.15 at the time of writing and is currently trading around 150.168.
USDJPY- Analysis
The pair regained above 113.50 on strong US indices. Any minor bullishness only if it breaks 114.
CCI Analysis-
The CCI (50) and Woodies CCI hold above slightly zero level in the 4- hour chart. It confirms a bearish trend has halted.
Technical:
The immediate resistance is around 150.60, any break above targets 151.20/152/152.50. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is around 149.70. Any indicative violation below targets 149.35/148.90/148/147.25.
Indicator (4-Hour chart)
Directional movement index –Neutral
It is good to sell on rallies around 150.25-30 with SL around 151 for a TP of 148.55.
