GBPJPY trading in a narrow range between 164.07 and 163.06 for the past two days. It hits an intraday high of 163.686 and is currently trading around 163.62.
GBPUSD- Trend- neutral
The pound sterling pared some of its gains on mixed UK jobs data. The ILO unemployment rate came unchanged at 3.7% in three months. The wage inflation dropped to 5.7% from 6%. Markets eye US PPI and retail sales data for further direction. Any close above 1.2200 will pull the pair to 1.2270.
USDJPY- Bullish
The pair jumped above 134.50 on dovish BOJ minutes. Major support is 134/133.
GBPJPY analysis-
The near-term support is around 163, a breach below the targets of 162/161.70/161/160. The immediate resistance is at 163.70, any violation above will take the pair to 164.25/165/166/167.01.
Indicators (4-hour chart)
CCI (50)- Neutral
ADX- Neutral
It is good to buy above 163.70 with SL around 163.40 for a TP of 164.22
