Short-term resistance -155.30
Intraday Support- 154
GBPJPY regained above 155 on the strong pound sterling. GBPUSD surged more than 100 pips from a minor bottom 1.32714 despite the cautious market mood. Markets eye Russia and Ukraine peace talks for further direction. The intraday trend of GBPJPY is bullish as long as support 154 holds. GBPJPY hits an intraday high of 155.22 and is currently trading around 155.07.
USDJPY- Analysis
The pair hits fresh weekly high on board-based US dollar buying. The bullish trend continuation if it breaks 116.35.
CCI Analysis-
The CCI (50) is below zero level and above zero level in Woodies CCI in the 4 -hour chart. It confirms the neutral trend.
Technical:
The immediate resistance is around 155.30, any break above targets 156/157. 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 (4-hour chart)
Directional movement index –Neutral
It is good to buy above 155.30 with SL around 154 for a TP of 158.
