FxWirePro- GBPJPY Daily Outlook

Short-term resistance -151.50

Intraday support- 148.90

GBPJPY is trading higher for the fourth consecutive days on board-based Japanese Yen weakness. The pound sterling is holding above 1.32500 against the US dollar. Markets eyes Bank of England for further direction. 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 151.478 and is currently trading around 151.358.

  USDJPY- Analysis

The pair jumped above 114 level after hawkish Fed monetary policy. Any trend continuation if it breaks 115.

 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 151.50, any break above targets 152/152.50/153/153.52. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is around 150.80. Any indicative violation below targets 150.25/149.70/149.35/148.90.

 Indicator (4-Hour chart)

Directional movement index –Neutral

It is good to buy on dips 151.20-25 with SL around 150.50 for a TP of 153.