Short-term resistance -156.50
Intraday Support- 155
GBPJPY regained above 156 despite a risk-off mood. The slight calm down in Ukraine situation supports the pair at lower levels. The pound sterling holding below 1.3600 on Brexit and geopolitical tension. Markets eye BOE monetary policy hearings for further direction. Any breach below 1.3570 confirms further bearishness. The intraday trend of GBPJPY is bearish as long as resistance 157.20 holds. GBPJPY hits an intraday high of 156.45 and is currently trading around 156.37.
USDJPY- Analysis
The pair is trading above 115 on easing Russia and Ukraine's geopolitical tension. The intraday bearishness if it breaks 114.50
CCI Analysis-
The CCI (50) and Woodies CCI hold below zero levels in the 4 -hour chart. It confirms the bearish trend.
Technical:
The immediate resistance is around 156.50, any break above targets 157.40/157.75/158.50. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is at 155.50. Any indicative violation below targets 155/154/153/151.95/150.
Indicator (4-Hour chart)
Directional movement index –Neutral
It is good to sell on rallies around 156.45-50 with SL around 157.40 for a TP of 153.
