FxWirePro- GBPJPY Daily Outlook

Short-term resistance -153

Intraday Support- 152.30

GBPJPY regained above 152.50 on weak yen. The Pound sterling hits a fresh 52-week low against USD on board-based US dollar buying. Any breach below 1.3060 confirms further bearishness. The intraday trend of GBPJPY is bullish as long as support 151.80 holds. GBPJPY hits an intraday high of 152.98 and is currently trading around 152.79.

 USDJPY- Analysis

The pair surged to a fresh multi-year high on surging US Treasury yields. It holds well above significant resistance 116.35, a jump to 117.65 is possible.

 CCI Analysis-

The CCI (50) is below zero level in the 4 -hour chart.  The directional movement index shows the neutral trend. It confirms the neutral trend.

 Technical:

The immediate resistance is around 153, any break above targets 154/155.30. Significant bullish continuation if it breaks 155.30. On the lower side, near-term support is at 152.30. Any indicative violation below targets 151.80/151.40/150.

It is good to buy above 153 with SL around 152 for a TP of 155.