GBPJPY recovered above 162.50 on the weak yen. It hits a high of 163.12 yesterday and is currently trading around 162.80.
GBPUSD- Trend- Bearish
The pound sterling lost its shine and traded below 1.2000 ahead of the Brexit deal announced today. Any close below 1.2000 will drag the GBPUSD to 1.18400. The US dollar gained momentum after the hawkish Fed meeting minutes. The US dollar hits a fresh six-week high. Significant resistance to watch 105.65/106.
USDJPY- Bullish
The pair trades above 1365 as the incoming Bank of Japan governor supports the easy monetary policy. Major resistance is 136.50/138.
GBPJPY analysis-
The near-term support is around 162.45, a breach below targets of 161/160.35/160/159/158/156.70/155.60/155. The immediate resistance is at 163.20, any violation above will take the pair to 165/166.
Indicators (4-hour chart)
CCI (50) –Bullish
ADX- Bearish
It is good to buy on dips around 162 with SL around 161 for a TP of 165/166.
