Short-term resistance -154
Intraday Support- 152.65
GBPJPY is trading lower for the second consecutive days and lost more than 200 pips. The pound sterling is under pressure against the US dollar below 1.3300 on geopolitical tension between Russia and Ukraine. The UK has introduced new sanctions against Russia's Central bank which will affect Russia's economy. Any breach below 1.3270 confirms further bearishness. The intraday trend of GBPJPY is bearish as long as resistance 154 holds. GBPJPY hits an intraday low of 152.81 and is currently trading around 153.22.
USDJPY- Analysis
The pair regained above 115 levels on board-based US dollar buying. 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 153.50, any break above targets 154/155/155.30. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is at 152.60 (200-day EMA). Any indicative violation below targets 152/151.25/150.
Indicator (Daily chart)
Directional movement index –Bearish
It is good to sell on rallies around 153.75-80 with SL around 155 for a TP of 150.
