FxWirePro- GBPJPY Daily Outlook

Short-term resistance -150.75

Intraday Support- 149.50

GBPJPY has once again shown a minor pullback above 150 and is currently trading around 150.139. The pound sterling is consolidated in a narrow range between 1.3150 and 1.3250 for the past two days. The number of new coronavirus cases surged more than 1400000 in the UK on the week ending Dec 19th, 2021. Any breach below 1.3150 confirms bearish continuation. The intraday trend of GBPJPY is bearish as long as resistance 150.75 holds. GBPJPY hits an intraday high of 150.22 and is currently trading around 150.17.

  USDJPY- Analysis

The pair holds above 113.50 levels on higher yields. Any intraday bearishness only if it breaks 113.

 CCI Analysis-

The CCI (50) and Woodies CCI hold below zero level in the 4- hour chart. It confirms an intraday bearish trend.

 Technical:

The immediate resistance is around 150.40, any break above targets 150.75/151.25/152/152.60/153/153.52. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is around 149.50. Any indicative violation below targets 148.90/148.

 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.