GBPJPY showed a minor pullback of more than 100 pips from a low of 158.18. It hits an intraday high of 159.45 and is currently trading around 159.31.
GBPUSD- Trend- Bearish
The pound sterling lost its shine on board-based US dollar buying. US dollar index hits one-month high in hopes of further policy tightening by Fed. Market eye UK claimant count change for further direction. Any daily close below 1.2000 will drag the pair to 1.1890.
USDJPY- Bearish
The pair recovered sharply as BOJ Deputy governor Masayoshi Amamiya will take as BOJ Governor. Major support is 130/129.
GBPJPY analysis-
The near-term support is around 157.60, a breach below targets of 156.70/155.60/155. The immediate resistance is at 159.20, any violation above will take the pair to 160/161.80/163.
Indicators (4-hour chart)
CCI (50) –bearish
ADX- Bearish
It is good to buy above 160 with SL around 159 for a TP of 162.
