FxWirePro- GBPJPY Daily Outlook

Short-term resistance -155.30

Intraday Support- 153.50

GBPJPY reverses from 200-4H EMA on the weak pound sterling. The uncertainty elevated after Russia attacks Ukraine nuclear plant. The demand for safe-haven assets like the US dollar gained on an escalation of geopolitical tension. Markets eye Russia and Ukraine peace talks for further direction. The intraday trend of GBPJPY is bearish as long as resistance 155.30 holds. GBPJPY hits an intraday low of 153.71 and is currently trading around 153.735.

 USDJPY- Analysis

The pair shows a minor profit booking from a weekly high of 115.80. The bullish trend continuation if it breaks 116.35.

 CCI Analysis-

The CCI (50) and Woodies CCI below zero level in Woodies CCI in the 4 -hour chart. It confirms the neutral trend.

 Technical:

The immediate resistance is around 154.20, any break above targets 154.70/155.30/156/157. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is at 153.50. Any indicative violation below targets 153/152.60/152/151.25/150.

 Indicator (4-hour chart)

Directional movement index –Bearish

It is good to sell on rallies around 154.25-30 with SL around 155.30 for a TP of 152.60/152.