GBPJPY hits a multi-year high on a weak yen. It hits an intraday high of 182.06 and is currently trading around 181.69.
GBPUSD- Trend- Bullish
The pound sterling climbed sharply and hits a 14-month high on broad-based US dollar selling. Markets expect a further 25 bpbs point rate hike by BOE in the next policy meeting supporting the Pound sterling at lower levels. Any break above 1.2850 confirms further bullishness.
USDJPY- Bullish
The pair trades higher on the dovish BOJ status quo. Significant Resistance is 141/143.
GBPJPY analysis-
The near-term support is around 180.80, a breach below targets 180/178.80. The immediate resistance is at 182.40, any violation above will take the pair to 183/184.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy on dips around 180.80 with SL around 180 for a TP of 185.
