FxWirePro- GBPJPY Daily Outlook

Short-term resistance -153.50

Intraday Support- 152.30

GBPJPY regained above 153 on weak yen. The Pound sterling hits a fresh 52-week low against USD on board-based US dollar buying. Any breach below 1.3000 confirms further bearishness. The intraday trend of GBPJPY is bullish as long as support 152.75 holds. GBPJPY hits an intraday high of 153.339 and is currently trading around 153.30.

 USDJPY- Analysis

The pair surged above 117.5. and hits five-year high on surging US Treasury yields. A jump to 118.65 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 153.50, 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 on dips around 153.20-25 with SL around 152.30 for a TP of 155.30.