FxWirePro- GBPJPY Daily Outlook

Short-term resistance -152.75

Intraday Support- 151.25

GBPJPY is trading weak for the third consecutive week on the weak Pound sterling.  It has lost more than 400 pips against the US dollar as Russia and Ukraine war increased demand for safe-haven assets. Crude gained sharply on fear of US banning Russia oil imports. The intraday trend of GBPJPY is bearish as long as resistance 152.75 holds. GBPJPY hits an intraday low of 151.46 and is currently trading around 151.95.

 USDJPY- Analysis

The pair regained above 115 in hopes of a pause in the Russia and Ukraine war. 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 bearish trend.

 Technical:

The immediate resistance is around 152.25, any break above targets 152.75/153.35/154. Significant bullish continuation if it breaks 155.30. On the lower side, near-term support is at 151.25. Any indicative violation below targets 150/149.

 Indicator (4-hour chart)

Directional movement index –Bearish

It is good to sell on rallies around 152.35-40 with SL around 153 for a TP of 150.