FxWirePro- GBPJPY Daily Outlook

Short-term resistance -155.30

Intraday Support- 153.35

GBPJPY is under pressure after a minor pullback above 155. The pound sterling showed a gap up after a massive sell-off on the Ukraine crisis. Any breach above 1.3380 (61.8% fib) confirms further bullishness. Russian Putin has ordered the defense minister and chief of the military to place nuclear forces on high alert. The intraday trend of GBPJPY is bearish as long as resistance 155.30 holds. GBPJPY hits an intraday low of 154.07 and is currently trading around 154.60.

 USDJPY- Analysis

The pair regained above 115 levels after hitting two weeks low. Markets eye Russia and Ukraine talks today at conflict for further direction. The intraday bearishness if it breaks 114.40.

 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 155.30, any break above targets 156/156.80/157.30. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is at 154. Any indicative violation below targets 153.35/152.75.

 Indicator (4-hour chart)

Directional movement index –Bearish

It is good to sell on rallies around 154.75-80 with SL around 155.35 for a TP of 153.