FxWirePro- GBPJPY Daily Outlook

Short-term resistance -155.35

Intraday Support- 154

GBPJPY halted its 5-day uptrend and lost nearly 90 pips on strong yen. The pound sterling regained After hitting a five-week low against the US dollar despite UK political uncertainty. Any breach above 1.3500 will take the pair to the next level 1.3600. Markets eye UK final manufacturing PMI for further direction. The intraday trend of GBPJPY is bullish as long as support 154 holds. GBPJPY hits an intraday high of 154.93 and is currently trading around 154.91.

 USDJPY- Analysis

The pair declined for the third consecutive day on US Fed- BOJ policy divergence.  The intraday bullishness if it breaks 115.70.

 CCI Analysis-

The CCI (50) and Woodies CCI hold above zero levels in the 4 -hour chart. It confirms the bullish trend.

 Technical:

The immediate resistance is around 155.35, any break above targets 155.70/156.10/157. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is at 154.60. Any indicative violation below targets 154/153/151.95/150.

 Indicator (4-Hour chart)

Directional movement index –Neutral

It is good to buy on dips around 154.65-70 with SL around 154 for a TP of 157.