GBPJPY is trading flat ahead of the Bank of England's monetary policy. It hits a high of 181.60 yesterday and is currently trading around 180.80
GBPUSD- Trend- Bullish
The pound sterling climbed above 1.2750 on BOE decision day. Markets expect a 25 bpbs rate hike by the central bank. Any hawkish commentary by BOE Governor Bailey will push the pound sterling higher. Any break below 1.2690 confirms intraday bearishness.
USDJPY- Bullish
The pair pared some of its gains despite the hawkish Fed Chairman Speech. Significant Resistance is 142.25/143.
GBPJPY analysis-
The near-term support is around 180.50, 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- Neutral
It is good to buy on dips around 180 with SL around 179 for a TP of 185.
