Short-term resistance -151.15
Intraday support- 148.90
GBPJPY jumped above 55-4H EMA after a long consolidation. The Pound sterling surged against the US dollar on upbeat UK CPI data. The annual inflation jumped to 5.1% in Nov compared to a forecast of 4.7%. Any breach above 1.3280 confirms intraday bearishness. The intraday trend is bullish as long as support 149.65 holds. GBPJPY hits an intraday high of 150.92 and is currently trading around 150.783.
USDJPY- Analysis
The pair regained above 113.50 on upbeat market sentiment. Any minor bullishness only if it breaks 114.
CCI Analysis-
The CCI (50) and Woodies CCI hold above zero level in the 4- hour chart. It confirms an intraday bullish trend.
Technical:
The immediate resistance is around 151.15, any break above targets 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 buy on dips 150.70-75 around with SL around 150 for a TP of 152.
